The Home Depot, Inc. $HD Shares Sold by Comerica Bank

Key Points

• Comerica Bank sold 12,950 shares of Home Depot, reducing its stake by 2.1% to 592,206 shares, making Home Depot the bank's 12th largest holding.
• Wall Street analysts have a positive outlook on Home Depot, with price targets from several analysts ranging from $360 to $450, and a consensus rating of "Moderate Buy."
• Home Depot recently declared a quarterly dividend of $2.30 per share, with an annualized yield of 2.2% and a payout ratio of 62.5%.

Comerica Bank trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 592,206 shares of the home improvement retailer's stock after selling 12,950 shares during the quarter. Home Depot makes up approximately 0.9% of Comerica Bank's holdings, making the stock its 12th largest position. Comerica Bank owned 0.06% of Home Depot worth $217,038,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HD. Navigoe LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in shares of Home Depot in the 1st quarter worth 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 worth $36,000 after buying an additional 46 shares during the last quarter. Quarry LP grew its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the last quarter. 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 worth $42,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Stifel Nicolaus upped their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $432.52.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction on 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 transaction, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction 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 trade represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,532 shares of company stock valued at $18,648,987. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of Home Depot stock traded down $0.52 during trading on Thursday, reaching $407.72. 4,050,988 shares of the stock traded hands, compared to its average volume of 3,553,738. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The business has a fifty day simple moving average of $378.04 and a two-hundred day simple moving average of $371.50. The company has a market capitalization of $405.65 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 3.86 and a beta of 1.00.

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 the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

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.