Fortitude Family Office LLC Sells 1,006 Shares of The Home Depot, Inc. $HD

Key Points

• Fortitude Family Office LLC has reduced its holdings in The Home Depot, Inc. by 17.0%, now owning 4,924 shares valued at approximately $1.8 million.
• The company recently reported earnings of $4.68 per share, slightly missing expectations while revenue increased by 4.9% year-over-year.
• A number of analysts have upgraded their target price for Home Depot, with a current consensus price target of $435.60 and a consensus rating of "Moderate Buy."

Fortitude Family Office LLC reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 17.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,924 shares of the home improvement retailer's stock after selling 1,006 shares during the quarter. Fortitude Family Office LLC's holdings in Home Depot were worth $1,805,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Abound Financial LLC acquired a new position in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC lifted its position in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares during the period. Global X Japan Co. Ltd. acquired a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Compass Financial Services Inc acquired a new position in shares of Home Depot during the 1st quarter valued at $41,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 2nd quarter valued at $41,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HD shares. TD Securities downgraded shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. 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. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Stifel Nicolaus upped their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company upped their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One investment 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 stock. According to MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $435.60.

Home Depot Stock Performance

Shares of HD stock opened at $412.86 on Tuesday. The firm has a 50-day moving average of $395.79 and a 200-day moving average of $373.58. The company has a market cap of $410.96 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.94 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its 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 analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS 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 issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. Home Depot's dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president owned 16,057 shares of the company's stock, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

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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