First Manhattan CO. LLC. Has $12.31 Million Stake in The Home Depot, Inc. $HD

Key Points

• First Manhattan CO. LLC. decreased its stake in The Home Depot, Inc. by 6.2% in the first quarter, owning a total of 33,583 shares valued at $12.3 million after selling 2,226 shares.
• Analysts have raised their price targets for Home Depot, with Wells Fargo and Robert W. Baird now setting targets at $450.00, reflecting strong buy ratings from multiple firms.
• Home Depot announced a quarterly dividend of $2.30 per share, scheduled for payment on September 18, highlighting a dividend yield of 2.3% and a payout ratio of 62.50%.

First Manhattan CO. LLC. cut its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,583 shares of the home improvement retailer's stock after selling 2,226 shares during the quarter. First Manhattan CO. LLC.'s holdings in Home Depot were worth $12,308,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HD. Abound Financial LLC bought a new position in Home Depot during the first quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares during the last quarter. Quest 10 Wealth Builders Inc. lifted its stake in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in Home Depot in the fourth quarter valued at $45,000. Finally, Vega Investment Solutions bought a new stake in Home Depot in the fourth quarter valued at $46,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Home Depot stock traded up $7.01 during midday trading on Friday, hitting $418.70. The company's stock had a trading volume of 5,854,063 shares, compared to its average volume of 3,533,561. 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 stock's 50-day moving average price is $385.21 and its 200-day moving average price is $371.46. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $416.77 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 3.90 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter last year, the firm posted $4.60 earnings per share. Home Depot's revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, 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 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 in the last three months. Insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HD shares. Evercore ISI set a $400.00 target price on Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. DA Davidson restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Morgan Stanley lifted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $432.52.

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.