Janney Montgomery Scott LLC Sells 1,243 Shares of The Home Depot, Inc. $HD

Key Points

• Janney Montgomery Scott LLC reduced its stake in Home Depot by 0.3%, selling 1,243 shares but still holding 434,933 shares valued at $159.46 million.
• Analysts have set a new price target for Home Depot, with Oppenheimer raising it to $420.00 and Wells Fargo increasing their target from $420.00 to $450.00 with an "overweight" rating.
• Home Depot's stock recently reported earnings that missed analysts' expectations, with $4.68 EPS compared to a consensus estimate of $4.69 EPS.

Janney Montgomery Scott LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 434,933 shares of the home improvement retailer's stock after selling 1,243 shares during the period. Janney Montgomery Scott LLC's holdings in Home Depot were worth $159,464,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HD. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new stake in shares of Home Depot in the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its position in shares of Home Depot by 86.8% in 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 during the period. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $40,000. Finally, Compass Financial Services Inc purchased a new stake in shares of Home Depot in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on HD. Oppenheimer increased their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a research report on Thursday, September 25th. TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. DA Davidson reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Wells Fargo & Company increased their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus increased their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. One 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $436.40.

Home Depot Stock Down 0.8%

NYSE:HD opened at $406.70 on Tuesday. The firm has a market capitalization of $404.82 billion, a P/E ratio of 27.63, a PEG ratio of 3.89 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company's fifty day moving average price is $400.71 and its 200-day moving average price is $375.25. 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 released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.60 EPS. 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 EPS for the current year.

Home Depot Announces Dividend

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

Insider Transactions at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on 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 owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on 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 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. Over the last three months, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by corporate 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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