Peoples Financial Services CORP. Cuts Stake in The Home Depot, Inc. $HD

Key Points

• Peoples Financial Services CORP. reduced its stake in The Home Depot, Inc. by 18.6% in Q2, holding 4,822 shares worth $1,768,000 following the sale of 1,104 shares.
• Insider transactions revealed CEO Edward P. Decker and EVP William D. Bastek sold substantial shares, leading to a 21.18% and 13.50% decrease in their respective positions.
• Analysts have recently increased their price targets for Home Depot, with estimated targets ranging from $420 to $455, and a consensus price target of $436.40.

Peoples Financial Services CORP. reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 18.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,822 shares of the home improvement retailer's stock after selling 1,104 shares during the quarter. Peoples Financial Services CORP.'s holdings in Home Depot were worth $1,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Home Depot by 9.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 39,688 shares of the home improvement retailer's stock worth $14,545,000 after buying an additional 3,293 shares during the period. Bowman & Co S.C. grew its position in shares of Home Depot by 5.0% in the 1st quarter. Bowman & Co S.C. now owns 9,324 shares of the home improvement retailer's stock worth $3,419,000 after buying an additional 447 shares during the period. Abner Herrman & Brock LLC grew its position in shares of Home Depot by 2.0% in the 1st quarter. Abner Herrman & Brock LLC now owns 36,245 shares of the home improvement retailer's stock worth $13,284,000 after buying an additional 719 shares during the period. Finally, Aletheian Wealth Advisors LLC grew its position in shares of Home Depot by 16.1% in the 1st quarter. Aletheian Wealth Advisors LLC now owns 1,119 shares of the home improvement retailer's stock worth $410,000 after buying an additional 155 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William D. Bastek sold 3,783 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on HD. 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. Wells Fargo & Company increased their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. DA Davidson reissued a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Truist Financial increased 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $436.40.

Home Depot Price Performance

Shares of NYSE:HD opened at $410.16 on Monday. The firm's 50 day moving average price is $399.85 and its 200-day moving average price is $374.87. 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. The stock has a market capitalization of $408.27 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00.

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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business 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 company earned $4.60 EPS. Home Depot's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm 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. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio is 62.50%.

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.

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