Hodges Capital Management Inc. Has $8.56 Million Stake in The Home Depot, Inc. $HD

Key Points

• Hodges Capital Management Inc. reduced its stake in The Home Depot by 35%, holding 23,356 shares worth approximately $8.56 million after selling 12,551 shares in the first quarter.
• Insider trading activity includes CEO Edward P. Decker selling 32,897 shares valued at over $13 million, representing a 21.18% decrease in his position.
• Analysts show mixed sentiments, with price targets for Home Depot ranging from $399 to $450, while one analyst rates the stock as a Strong Buy and nineteen as a Buy.

Hodges Capital Management Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 35.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,356 shares of the home improvement retailer's stock after selling 12,551 shares during the period. Hodges Capital Management Inc.'s holdings in Home Depot were worth $8,560,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HD. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC boosted 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 worth $36,000 after purchasing an additional 46 shares in the last quarter. Quest 10 Wealth Builders Inc. boosted its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Spurstone Advisory Services LLC bought a new position in shares of Home Depot during the 4th quarter worth about $45,000. Finally, Vega Investment Solutions bought a new position in shares of Home Depot during the 4th quarter worth about $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction that occurred 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 owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock worth $18,648,987 in the last 90 days. Company insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HD shares. Robert W. Baird increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Morgan Stanley increased their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada cut their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, Truist Financial boosted their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Price Performance

Shares of NYSE HD opened at $423.37 on Friday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $421.42 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 3.92 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The firm's 50-day simple moving average is $388.99 and its 200 day simple moving average is $372.26.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the business posted $4.60 EPS. 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. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.