First City Capital Management Inc. Sells 2,969 Shares of The Home Depot, Inc. $HD

Key Points

• First City Capital Management Inc. reduced its stake in Home Depot by 18.2% in Q2, now holding 13,345 shares valued around $4.89 million.
• Wall Street analysts have generally given Home Depot a "Moderate Buy" consensus rating, with target prices ranging from $430.00 to $497.00.
• Home Depot announced a quarterly dividend of $2.30 per share, which equates to an annual yield of 2.2%.

First City Capital Management Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 18.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,345 shares of the home improvement retailer's stock after selling 2,969 shares during the quarter. Home Depot makes up about 2.8% of First City Capital Management Inc.'s investment portfolio, making the stock its 8th largest holding. First City Capital Management Inc.'s holdings in Home Depot were worth $4,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Copia Wealth Management acquired a new stake in Home Depot during the fourth quarter valued at approximately $47,000. Aegis Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth approximately $279,000. Campbell Deegan Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth approximately $236,000. Finally, Wealthedge Investment Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $770,000. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Wolfe Research began coverage on Home Depot in a research report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price target on the stock. DA Davidson reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Morgan Stanley raised their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $437.08.

Insider Buying and Selling

In other news, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction dated 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 owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.3%

Shares of NYSE:HD opened at $409.77 on Thursday. 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 company's 50-day moving average price is $397.87 and its 200 day moving average price is $374.09. The company has a market cap of $407.88 billion, a PE ratio of 27.84, a P/E/G ratio of 3.90 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

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

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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