Connor Clark & Lunn Investment Management Ltd. Reduces Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in The Home Depot by 39.9%, now holding 5,766 shares worth approximately $2.11 million as of the latest SEC filing.
• Home Depot reported earnings per share of $3.56 for the last quarter, slightly missing estimates, but achieved revenue of $39.86 billion, exceeding forecasts with a year-over-year increase of 9.4%.
• The company recently declared a quarterly dividend of $2.30 per share, resulting in an annualized dividend yield of 2.3% with a payout ratio of about 62.42%.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,766 shares of the home improvement retailer's stock after selling 3,827 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Home Depot were worth $2,113,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT bought a new position in shares of Home Depot in the first quarter worth approximately $3,014,000. Townsquare Capital LLC increased its position in shares of Home Depot by 7.4% in the first quarter. Townsquare Capital LLC now owns 85,362 shares of the home improvement retailer's stock worth $31,284,000 after purchasing an additional 5,874 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of Home Depot by 8.3% in the first quarter. Founders Financial Alliance LLC now owns 5,716 shares of the home improvement retailer's stock worth $2,095,000 after purchasing an additional 439 shares during the last quarter. Nicholson Wealth Management Group LLC increased its position in shares of Home Depot by 2.0% in the first quarter. Nicholson Wealth Management Group LLC now owns 4,992 shares of the home improvement retailer's stock worth $1,830,000 after purchasing an additional 100 shares during the last quarter. Finally, Savvy Advisors Inc. increased its position in shares of Home Depot by 14.0% in the first quarter. Savvy Advisors Inc. now owns 8,190 shares of the home improvement retailer's stock worth $3,002,000 after purchasing an additional 1,003 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% 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, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

HD has been the topic of a number of recent research reports. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus increased their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company set a $420.00 price target on shares of Home Depot and gave the company an "overweight" rating in a research report on Monday, June 30th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Tuesday. One 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, Home Depot has a consensus rating of "Moderate Buy" and an average target price of $427.76.

Home Depot Trading Up 3.3%

Shares of NYSE:HD traded up $13.0120 during trading on Tuesday, reaching $407.7120. 4,183,297 shares of the company traded hands, compared to its average volume of 3,524,268. The firm has a market capitalization of $405.64 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 3.80 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 company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The business's fifty day moving average is $371.05 and its 200-day moving average is $371.19.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

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.