Penobscot Investment Management Company Inc. Sells 1,270 Shares of The Home Depot, Inc. $HD

Key Points

• Penobscot Investment Management Company Inc. reduced its stake in The Home Depot, Inc. by 3.0%, selling 1,270 shares during the second quarter, leaving it with 40,777 shares worth approximately $14.95 million.
• Analysts have mixed views on Home Depot, with price targets ranging from $420 to $497, and a consensus rating of "Moderate Buy".
• Home Depot recently declared a quarterly dividend of $2.30 per share, with a dividend yield of 2.3% and a payout ratio of 62.5%.

Penobscot Investment Management Company Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,777 shares of the home improvement retailer's stock after selling 1,270 shares during the quarter. Home Depot comprises 1.3% of Penobscot Investment Management Company Inc.'s holdings, making the stock its 16th largest holding. Penobscot Investment Management Company Inc.'s holdings in Home Depot were worth $14,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new stake in Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% in 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. Global X Japan Co. Ltd. acquired a new stake in Home Depot in the second quarter valued at approximately $40,000. Finally, Compass Financial Services Inc purchased a new position in Home Depot in the first quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Wolfe Research assumed coverage on Home Depot in a research note on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price target for the company. DA Davidson restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Oppenheimer increased their price objective on shares of Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $436.40.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction that occurred 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 transaction, the chief executive officer 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 three months. Company insiders own 0.10% of the company's stock.

Home Depot Price Performance

Shares of NYSE HD opened at $394.88 on Friday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business's 50 day moving average price is $402.63 and its 200 day moving average price is $376.21. 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 firm has a market cap of $393.06 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.75 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $4.60 earnings per share. 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 year.

Home Depot Dividend Announcement

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

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