NorthCrest Asset Manangement LLC Sells 1,464 Shares of The Home Depot, Inc. $HD

Key Points

• NorthCrest Asset Management LLC reduced its stake in The Home Depot by 1.5%, now holding 96,104 shares valued at approximately $35.72 million.
• Home Depot reported Q2 earnings of $4.68 per share, slightly missing estimates, with revenue of $45.28 billion, a 4.9% increase year-over-year.
• The company declared a quarterly dividend of $2.30, yielding 2.2%, and highlighted that institutional investors own 70.86% of its stock.

NorthCrest Asset Manangement LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,104 shares of the home improvement retailer's stock after selling 1,464 shares during the quarter. Home Depot comprises 1.0% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 21st biggest position. NorthCrest Asset Manangement LLC's holdings in Home Depot were worth $35,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Abound Financial LLC bought a new stake in shares of Home Depot in the first quarter valued at $31,000. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Home Depot during the 1st quarter worth about $41,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 2nd quarter worth approximately $41,000. Finally, Quest 10 Wealth Builders Inc. increased its holdings in Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of NYSE HD traded down $1.71 during trading hours on Friday, hitting $415.77. 6,709,599 shares of the company's stock were exchanged, compared to its average volume of 3,720,799. The company's 50-day moving average price is $394.94 and its 200-day moving average price is $373.39. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market capitalization of $413.85 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.94 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter last year, the firm earned $4.60 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. 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 2.2%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HD. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. TD Securities downgraded shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Wells Fargo & Company increased their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $435.00.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 in the last 90 days. 0.10% of the stock is owned by insiders.

About Home Depot

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.