Patron Partners LLC Decreases Position in The Home Depot, Inc. $HD

Key Points

• Patron Partners LLC has reduced its holdings in The Home Depot, Inc. by 20.4%, selling 861 shares during the second quarter, bringing their total to 3,366 shares valued at approximately $1.23 million.
• Despite Patron's decrease, several other large investors, including Vanguard Group and Asset Planning Services, have significantly increased their positions in Home Depot.
• The Home Depot reported quarterly earnings that missed analysts' expectations, posting $4.68 EPS compared to the consensus estimate of $4.69, along with a revenue of $45.28 billion, below the estimated $45.43 billion.

Patron Partners LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 20.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,366 shares of the home improvement retailer's stock after selling 861 shares during the quarter. Patron Partners LLC's holdings in Home Depot were worth $1,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after acquiring an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV increased its position in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the period. GAMMA Investing LLC increased its position in shares of Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after buying an additional 1,494,261 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer directly owned 122,425 shares of the company's stock, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company's stock.

Home Depot Stock Down 0.6%

Shares of Home Depot stock opened at $407.43 on Friday. The company has a market cap of $405.55 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.88 and a beta of 1.00. The company's 50 day moving average is $398.84 and its 200 day moving average is $374.32. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

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 analysts' consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid 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 dividend yield of 2.3%. Home Depot's dividend payout ratio is 62.50%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Mizuho boosted their price target 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. TD Securities lowered shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Wolfe Research began coverage on shares of Home Depot in a research note on Thursday, September 18th. They set an "outperform" rating and a $497.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $436.40.

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.

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