Cardinal Capital Management Inc. Has $30.81 Million Stake in The Home Depot, Inc. $HD

Key Points

• Cardinal Capital Management Inc. reduced its stake in The Home Depot, Inc. by 2.3%, holding $30.81 million worth of shares as of the latest SEC filing.
• Home Depot reported a Q2 earnings miss with EPS of $4.68, slightly below the consensus estimate of $4.69, alongside a revenue of $45.28 billion.
• The company announced a quarterly dividend of $2.30 per share, translating to an annualized amount of $9.20 and a dividend yield of 2.2%.

Cardinal Capital Management Inc. lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,020 shares of the home improvement retailer's stock after selling 2,001 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Home Depot were worth $30,805,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after buying an additional 18,956,701 shares during the period. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares during the period. Nuveen LLC bought a new position in Home Depot in the 1st quarter worth $2,076,592,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 19.3% during the 1st 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 last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $418,486,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

NYSE:HD opened at $415.77 on Friday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The firm has a market capitalization of $413.85 billion, a PE ratio of 28.25, a P/E/G ratio of 3.94 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a 50-day simple moving average of $394.94 and a two-hundred day simple moving average of $373.39.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Securities lowered shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho increased their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $435.00.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. 0.10% of the stock is currently owned by company insiders.

About Home Depot

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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