Canada Pension Plan Investment Board Cuts Holdings in The Home Depot, Inc. $HD

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in The Home Depot, Inc. by 7.6%, bringing its total ownership to approximately 1.08 million shares valued at around $394 million.
• Home Depot reported earnings of $4.68 per share for the last quarter, slightly missing analyst expectations, with a quarterly revenue of $45.28 billion.
• The company announced a quarterly dividend of $2.30, scheduled to be paid on September 18th, reflecting an annualized yield of 2.3%.

Canada Pension Plan Investment Board trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,076,293 shares of the home improvement retailer's stock after selling 88,049 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of Home Depot worth $394,451,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Abound Financial LLC purchased a new position in Home Depot in the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares during the last quarter. Quarry LP grew its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the last quarter. Quest 10 Wealth Builders Inc. grew its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares during the last quarter. Finally, Spurstone Advisory Services LLC acquired a new stake in Home Depot during the 4th quarter valued at $45,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.1%

Shares of HD opened at $407.72 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The firm has a market capitalization of $405.84 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 3.87 and a beta of 1.00. The stock's fifty day simple moving average is $379.27 and its 200 day simple moving average is $371.45. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate 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 business posted $4.60 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares of the company's stock, valued at $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 is available through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. This trade represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock valued at $18,648,987 over the last ninety days. Insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of analyst reports. Mizuho increased their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Robert W. Baird increased their target price on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Guggenheim reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, Morgan Stanley raised their price objective on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot 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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