Kayne Anderson Rudnick Investment Management LLC Lowers Stock Position in The Home Depot, Inc. $HD

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in The Home Depot by 9.2%, selling 9,987 shares and leaving it with 98,721 shares worth $36.18 million.
• Home Depot reported earnings of $4.68 per share for the quarter, slightly missing analysts' expectations, while quarterly revenue rose 4.9% year-over-year.
• The company announced a quarterly dividend of $2.30 per share, with a current dividend yield of 2.2%, set to be paid on September 18th.

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,721 shares of the home improvement retailer's stock after selling 9,987 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Home Depot were worth $36,180,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after buying an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after acquiring an additional 891,326 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction on Thursday, August 21st. The shares were 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 in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,532 shares of company stock valued at $18,648,987. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HD shares. TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Truist Financial increased their target price on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Trading Down 0.1%

HD traded down $0.52 during trading on Thursday, reaching $407.72. The company had a trading volume of 4,051,568 shares, compared to its average volume of 3,565,147. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The business has a 50 day simple moving average of $378.04 and a 200-day simple moving average of $371.50. The stock has a market cap of $405.84 billion, a P/E ratio of 26.95, a PEG ratio of 3.87 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.

Home Depot (NYSE:HD - Get Free Report) last announced its 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). The firm had revenue of $45.28 billion during 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 company's revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid 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 2.3%. 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.