Greenwood Capital Associates LLC Trims Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Greenwood Capital Associates LLC reduced its holdings in The Home Depot by 20.2% in Q2, now owning 17,021 shares worth approximately $6.24 million.
• Insider sales included Teresa Wynn Roseborough selling 5,483 shares and CEO Edward P. Decker selling 32,897 shares, decreasing their positions by 25.45% and 21.18%, respectively.
• Despite a slight earnings miss, Home Depot's stock holds a consensus "Moderate Buy" rating with a current average target price of $436.40 by analysts.

Greenwood Capital Associates LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,021 shares of the home improvement retailer's stock after selling 4,300 shares during the quarter. Greenwood Capital Associates LLC's holdings in Home Depot were worth $6,241,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new position in shares of Home Depot in the 1st quarter worth approximately $3,851,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Home Depot in the 1st quarter worth approximately $406,000. Wealth Management Partners LLC boosted its holdings in shares of Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV boosted its holdings in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares during the period. Finally, Focus Partners Wealth boosted its holdings in shares of Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer's stock worth $155,131,000 after purchasing an additional 16,654 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on HD shares. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday, September 25th. Robert W. Baird boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Finally, DA Davidson restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $436.40.

Home Depot Trading Down 0.6%

HD opened at $394.56 on Friday. The firm has a market cap of $392.74 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.76 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a fifty day moving average price of $402.24 and a 200-day moving average price of $375.89.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's payout ratio is presently 62.50%.

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.

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