Kingswood Wealth Advisors LLC Decreases Stake in The Home Depot, Inc. $HD

Key Points

• Kingswood Wealth Advisors LLC reduced its stake in Home Depot by 58.1% in the second quarter, holding 9,152 shares post-sale, valued at approximately $3.36 million.
• Analysts generally maintain a positive outlook on Home Depot, with twenty analysts issuing a Buy rating and an average price target of $436.40.
• Home Depot recently announced a quarterly dividend of $2.30 per share, reflecting a yield of 2.4% and a dividend payout ratio of 62.5%.

Kingswood Wealth Advisors LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 58.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,152 shares of the home improvement retailer's stock after selling 12,679 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Home Depot were worth $3,355,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Legend Financial Advisors Inc. acquired a new stake in Home Depot in the 2nd quarter valued at about $28,000. Abound Financial LLC acquired a new position in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its position 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 valued at $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of Home Depot in the second quarter valued at approximately $40,000. Finally, Compass Financial Services Inc purchased a new position in Home Depot during the first quarter worth approximately $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Wolfe Research began coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Stifel Nicolaus increased their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Finally, Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $436.40.

Home Depot Price Performance

Home Depot stock opened at $389.56 on Tuesday. 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 Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The firm has a market cap of $387.76 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The company's 50 day moving average is $402.88 and its two-hundred day moving average is $376.78.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate 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 business's revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Insiders Place Their Bets

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction on 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 transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company's stock.

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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