Focused Investors LLC Decreases Position in The Home Depot, Inc. $HD

Key Points

• Focused Investors LLC has reduced its position in The Home Depot by 2.1%, selling 4,500 shares, which now constitutes around 2.5% of their portfolio worth approximately $77.6 million.
• Analysts have raised their price targets for Home Depot, with recent estimates ranging from $420.00 to $455.00, indicating a positive outlook with most analysts rating the stock as a "Buy."
• Home Depot recently reported quarterly earnings that slightly missed estimates, with an EPS of $4.68 compared to the consensus of $4.69, and a revenue increase of 4.9% year-over-year.

Focused Investors LLC cut its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 211,550 shares of the home improvement retailer's stock after selling 4,500 shares during the period. Home Depot makes up about 2.5% of Focused Investors LLC's investment portfolio, making the stock its 20th largest holding. Focused Investors LLC's holdings in Home Depot were worth $77,563,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. SGL Investment Advisors Inc. raised its holdings in Home Depot by 0.9% in the second quarter. SGL Investment Advisors Inc. now owns 16,246 shares of the home improvement retailer's stock worth $5,970,000 after buying an additional 147 shares during the last quarter. Independent Solutions Wealth Management LLC raised its holdings in shares of Home Depot by 1.0% during the second quarter. Independent Solutions Wealth Management LLC now owns 8,716 shares of the home improvement retailer's stock valued at $3,195,000 after purchasing an additional 88 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock valued at $17,663,000 after purchasing an additional 15,002 shares during the last quarter. Godsey & Gibb Inc. raised its holdings in shares of Home Depot by 2.7% during the second quarter. Godsey & Gibb Inc. now owns 61,712 shares of the home improvement retailer's stock valued at $22,626,000 after purchasing an additional 1,636 shares during the last quarter. Finally, TriaGen Wealth Management LLC raised its holdings in shares of Home Depot by 20.7% during the second quarter. TriaGen Wealth Management LLC now owns 2,420 shares of the home improvement retailer's stock valued at $887,000 after purchasing an additional 415 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Oppenheimer boosted their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a research report on Thursday, September 25th. DA Davidson restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Morgan Stanley boosted their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $436.40.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Angie Brown sold 1,000 shares of the 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 completion of the sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

HD stock opened at $386.84 on Wednesday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. 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 has a fifty day simple moving average of $403.07 and a two-hundred day simple moving average of $376.85. The firm has a market capitalization of $385.06 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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 net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter last year, the business earned $4.60 EPS. Home Depot's revenue for the quarter 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot's dividend payout ratio is currently 62.50%.

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.

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