Corebridge Financial Inc. Sells 13,053 Shares of The Home Depot, Inc. $HD

Key Points

• Corebridge Financial Inc. reduced its stake in The Home Depot by 5.0%, owning 250,096 shares worth approximately $91.66 million as it ranks as the firm’s 21st largest position.
• Several institutional investors dramatically increased their stakes in Home Depot, with Asset Planning Services Inc. LA ADV boosting its position by 99,400.7% during the first quarter.
• The Home Depot's recent earnings report showed a miss on estimates with an EPS of $4.68, slightly below the expected $4.69, while the company maintains a healthy dividend yield of 2.2%.

Corebridge Financial Inc. reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,096 shares of the home improvement retailer's stock after selling 13,053 shares during the period. Home Depot makes up approximately 0.5% of Corebridge Financial Inc.'s investment portfolio, making the stock its 21st biggest position. Corebridge Financial Inc.'s holdings in Home Depot were worth $91,658,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV raised its position 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 purchasing an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC raised its position in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Nuveen LLC acquired a new position in Home Depot during the first quarter valued at approximately $2,076,592,000. Price T Rowe Associates Inc. MD raised its position in Home Depot by 19.3% during the first 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 in the last quarter. Finally, Northern Trust Corp raised its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.1%

Shares of NYSE HD traded down $0.41 during trading on Friday, hitting $407.04. 2,208,819 shares of the company traded hands, compared to its average volume of 3,546,250. The business's fifty day moving average is $379.27 and its 200 day moving average is $371.45. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $405.16 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 3.87 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

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 for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the prior year, the company posted $4.60 EPS. Home Depot's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. Home Depot's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. decreased their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Guggenheim reissued a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $432.52.

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the 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 sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction 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 approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock worth $18,648,987 over the last ninety days. Insiders own 0.10% of the company's stock.

Home Depot Company 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.