Morris Financial Concepts Inc. Has $338,000 Stake in The Home Depot, Inc. $HD

Key Points

• Morris Financial Concepts Inc. reduced its stake in The Home Depot by 47.0% in Q2, now holding shares worth $338,000.
• Several institutional investors, including Prairie Sky Financial Group LLC, have recently increased their positions in Home Depot, with institutional ownership at approximately 70.86%.
• Home Depot reported earnings of $4.68 per share for its latest quarter, slightly missing analyst expectations, while quarterly revenue saw a 4.9% increase year-over-year.

Morris Financial Concepts Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 47.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 922 shares of the home improvement retailer's stock after selling 819 shares during the period. Morris Financial Concepts Inc.'s holdings in Home Depot were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Prairie Sky Financial Group LLC lifted its position in Home Depot by 18.9% during the 2nd quarter. Prairie Sky Financial Group LLC now owns 1,902 shares of the home improvement retailer's stock worth $697,000 after acquiring an additional 303 shares during the last quarter. Smart Portfolios LLC raised its position in shares of Home Depot by 2.0% during the second quarter. Smart Portfolios LLC now owns 2,162 shares of the home improvement retailer's stock valued at $793,000 after buying an additional 43 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Home Depot by 4.5% during the second quarter. Rosenberg Matthew Hamilton now owns 1,726 shares of the home improvement retailer's stock valued at $633,000 after buying an additional 74 shares during the last quarter. Mutual Advisors LLC raised its position in shares of Home Depot by 5.5% during the second quarter. Mutual Advisors LLC now owns 26,242 shares of the home improvement retailer's stock valued at $9,850,000 after buying an additional 1,370 shares during the last quarter. Finally, Tuttle Capital Management LLC raised its position in shares of Home Depot by 14.8% during the second quarter. Tuttle Capital Management LLC now owns 1,581 shares of the home improvement retailer's stock valued at $580,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE HD opened at $388.49 on Thursday. 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 stock has a market cap of $386.70 billion, a P/E ratio of 26.39, a PEG ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company's 50-day simple moving average is $403.59 and its 200 day simple moving average is $377.59.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot's quarterly 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 earnings per share. 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 fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid 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 dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HD shares. Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Mizuho upped their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Home Depot in a research report on Wednesday, October 8th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, DA Davidson reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $435.42.

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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