Cadinha & Co. LLC Cuts Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Cadinha & Co. LLC slashed its holdings in The Home Depot by 90.8% during the second quarter, leaving them with 3,613 shares valued at approximately $1.3 million.
• Several other hedge funds have also increased their investments in Home Depot, with Vanguard Group raising its stake by 0.8%, now owning over 96 million shares worth about $35.4 billion.
• The Home Depot reported earnings per share of $4.68 for the latest quarter, which was slightly lower than analysts' expectations of $4.69, amidst a revenue of $45.28 billion.

Cadinha & Co. LLC cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 90.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,613 shares of the home improvement retailer's stock after selling 35,608 shares during the quarter. Cadinha & Co. LLC's holdings in Home Depot were worth $1,325,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after buying an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV grew its stake in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Home Depot by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer's stock valued at $3,279,867,000 after purchasing an additional 477,192 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $386.66 on Thursday. The company has a market capitalization of $384.88 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.71 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The firm's 50 day simple moving average is $403.24 and its two-hundred day simple moving average is $378.52. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. The business's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot's payout ratio is presently 62.50%.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial lifted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Robert W. Baird lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Finally, DA Davidson reissued a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.42.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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