The Home Depot, Inc. $HD Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in The Home Depot, Inc. by 3.7% to approximately $18.23 million, owning 49,746 shares as of the latest quarter.
• Home Depot reported Q2 earnings of $4.68 per share, slightly below analysts' estimates, with revenue of $45.28 billion for the quarter.
• The company declared a quarterly dividend of $2.30 per share, representing an annual yield of 2.2% with a payout ratio of 62.50%.

Logan Capital Management Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,746 shares of the home improvement retailer's stock after selling 1,893 shares during the period. Home Depot accounts for 0.8% of Logan Capital Management Inc.'s investment portfolio, making the stock its 28th biggest position. Logan Capital Management Inc.'s holdings in Home Depot were worth $18,231,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HD. Abound Financial LLC bought a new position in Home Depot in the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its holdings in 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 valued at $36,000 after purchasing an additional 46 shares during the period. Quest 10 Wealth Builders Inc. lifted its holdings 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 acquiring an additional 30 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in shares of Home Depot during the 4th quarter worth $45,000. Finally, Vega Investment Solutions bought a new stake in shares of Home Depot during the 4th quarter worth $46,000. 70.86% of the stock is owned by institutional investors.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock valued at $18,648,987 in the last three months. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, JPMorgan Chase & Co. decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Stock Performance

NYSE:HD traded down $0.09 during trading hours on Friday, hitting $423.33. 5,003,481 shares of the company were exchanged, compared to its average volume of 3,572,982. The stock has a market capitalization of $421.38 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 3.92 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. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The company's 50 day moving average price is $388.99 and its 200-day moving average price is $372.26.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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). 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 analysts' expectations of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio is currently 62.50%.

Home Depot 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.