The Home Depot, Inc. $HD Shares Sold by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. has reduced its stake in The Home Depot, lowering its holdings by 4.3% to 20,379 shares, which is now 1.9% of its portfolio.
• Insider transactions at Home Depot include EVP William D. Bastek and EVP Teresa Wynn Roseborough, who decreased their stock positions by 13.50% and 25.45%, respectively, selling significant amounts of shares.
• Despite missing earnings estimates in the latest quarter, Home Depot has adjusted its future earnings guidance positively, with research analysts largely maintaining buy ratings and setting a consensus target price of $435.00 for the stock.

Carderock Capital Management Inc. lessened its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,379 shares of the home improvement retailer's stock after selling 906 shares during the quarter. Home Depot comprises 1.9% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Carderock Capital Management Inc.'s holdings in Home Depot were worth $7,472,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Abound Financial LLC purchased a new position in shares of Home Depot in the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Home Depot in the 1st quarter valued at approximately $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $41,000. Finally, Quest 10 Wealth Builders Inc. grew its stake in shares of Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction on 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 completion of the sale, the executive vice president owned 16,057 shares of the company's stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their position. 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 currently owned by company insiders.

Home Depot Trading Down 0.4%

Shares of NYSE:HD traded down $1.71 during midday trading on Friday, reaching $415.77. The company's stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The firm has a market cap of $413.85 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The business has a 50 day moving average price of $394.94 and a 200 day moving average price of $373.39.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current 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. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. Home Depot's payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HD shares. Wells Fargo & Company lifted their target price on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. TD Securities downgraded Home Depot to a "buy" rating in a research note on Monday, June 2nd. Mizuho raised their price target on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Truist Financial raised their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. reduced their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $435.00.

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.