Haverford Trust Co Cuts Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Haverford Trust Co reduced its stake in The Home Depot by selling 3,182 shares, bringing its total holdings to 108,100 shares, valued at approximately $39.6 million.
• Several analysts recently adjusted their price targets for Home Depot, with Wells Fargo raising its target from $420 to $450, while Jefferies decreased theirs from $461 to $456.
• The company announced a quarterly dividend of $2.30 per share, scheduled for payment on September 18th, representing an annualized yield of 2.2%.

Haverford Trust Co cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,100 shares of the home improvement retailer's stock after selling 3,182 shares during the period. Haverford Trust Co's holdings in Home Depot were worth $39,618,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC grew its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after buying an additional 565 shares in the last quarter. Topsail Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $1,078,000. Rothschild Capital Partners LLC acquired a new stake in Home Depot during the fourth quarter worth about $486,000. Finally, Knightsbridge Asset Management LLC grew its stake in Home Depot by 23.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 701 shares of the home improvement retailer's stock worth $273,000 after buying an additional 135 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of Home Depot 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 of the company's stock, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,532 shares of company stock worth $18,648,987. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.6%

NYSE HD traded down $2.56 during trading hours on Thursday, reaching $405.69. The company's stock had a trading volume of 1,045,407 shares, compared to its average volume of 3,540,544. The firm has a fifty day simple moving average of $378.04 and a 200-day simple moving average of $371.50. The stock has a market cap of $403.63 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter last year, the business earned $4.60 EPS. The firm's quarterly 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. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. Guggenheim reiterated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Morgan Stanley raised their price target 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. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, DA Davidson restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $432.52.

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.