Interchange Capital Partners LLC Lowers Holdings in The Home Depot, Inc. $HD

Key Points

• Interchange Capital Partners LLC significantly reduced its holdings in The Home Depot, Inc. by 97.3%, ending the second quarter with only 204 shares after selling 7,458 shares.
• Several analysts have upgraded their price targets for Home Depot, with Telsey Advisory Group maintaining an "outperform" rating and setting a target of $455.00.
• The company recently declared a quarterly dividend of $2.30 per share, resulting in an annual yield of 2.4%, with the payout ratio currently at 62.50%.

Interchange Capital Partners LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 97.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204 shares of the home improvement retailer's stock after selling 7,458 shares during the quarter. Interchange Capital Partners LLC's holdings in Home Depot were worth $75,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter worth $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% in the first 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 during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the second quarter worth $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot in the second quarter worth $40,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Truist Financial boosted their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Morgan Stanley boosted their price target on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their price target on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, Wolfe Research started coverage on Home Depot in a research note on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price target for the company. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.42.

Home Depot Stock Up 0.2%

Home Depot stock opened at $388.49 on Thursday. The stock has a market cap of $386.70 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.68 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The stock has a fifty day moving average of $403.59 and a 200 day moving average of $377.59.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for 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 firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William D. Bastek sold 2,303 shares of the business's stock in a transaction dated 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 directly owned 24,235 shares of the company's stock, valued at $10,254,313.20. This represents a 8.68% 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 in the last ninety days. 0.10% of the stock is currently owned by company insiders.

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.

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