North Point Portfolio Managers Corp OH Reduces Position in The Home Depot, Inc. $HD

Key Points

• North Point Portfolio Managers Corp OH has reduced its stake in The Home Depot, Inc. by 1.3%, now holding 50,062 shares valued at approximately $18.36 million.
• Several institutional investors, such as Bogart Wealth LLC and Princeton Global Asset Management, have increased their positions in Home Depot, further demonstrating growing interest in the stock.
• Home Depot's recent quarterly earnings reported a slight miss on EPS estimates, with a net revenue of $45.28 billion, but still showing a 4.9% year-over-year increase.

North Point Portfolio Managers Corp OH decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,062 shares of the home improvement retailer's stock after selling 660 shares during the quarter. Home Depot comprises approximately 3.1% of North Point Portfolio Managers Corp OH's investment portfolio, making the stock its 9th biggest position. North Point Portfolio Managers Corp OH's holdings in Home Depot were worth $18,355,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC grew its position in shares of Home Depot by 19.0% in the second quarter. Bogart Wealth LLC now owns 26,518 shares of the home improvement retailer's stock valued at $9,722,000 after purchasing an additional 4,228 shares during the last quarter. Princeton Global Asset Management LLC grew its position in Home Depot by 2.6% during the second quarter. Princeton Global Asset Management LLC now owns 11,275 shares of the home improvement retailer's stock worth $4,134,000 after buying an additional 288 shares in the last quarter. Schnieders Capital Management LLC grew its position in Home Depot by 14.1% during the second quarter. Schnieders Capital Management LLC now owns 11,587 shares of the home improvement retailer's stock worth $4,248,000 after buying an additional 1,433 shares in the last quarter. Alan B Lancz & Associates Inc. grew its position in Home Depot by 3.3% during the second quarter. Alan B Lancz & Associates Inc. now owns 1,550 shares of the home improvement retailer's stock worth $568,000 after buying an additional 50 shares in the last quarter. Finally, Orin Green Financial LLC acquired a new stake in Home Depot during the second quarter worth approximately $204,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HD. Stifel Nicolaus increased their price target on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. DA Davidson reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Robert W. Baird increased 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. Truist Financial increased their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Finally, Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $435.42.

Home Depot Stock Up 1.1%

Shares of HD opened at $391.79 on Monday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market capitalization of $389.98 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.72 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock has a fifty day moving average of $403.70 and a 200-day moving average of $378.12.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company posted $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, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company's stock, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 in the last ninety days. 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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