Pictet North America Advisors SA Lowers Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Pictet North America Advisors SA reduced its stake in The Home Depot, Inc. by 10%, holding 12,585 shares worth approximately $4.6 million at the end of the second quarter.
• Institutional investors continue to show interest, with significant increases in stake by firms like Kelly Financial Group and Kwmg LLC during the same period.
• The company recently announced a quarterly dividend of $2.30 per share, reflecting a 2.2% dividend yield and a payout ratio of 62.5%.

Pictet North America Advisors SA reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,585 shares of the home improvement retailer's stock after selling 1,402 shares during the period. Pictet North America Advisors SA's holdings in Home Depot were worth $4,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Kelly Financial Group LLC grew its stake in shares of Home Depot by 4.5% during the 2nd quarter. Kelly Financial Group LLC now owns 694 shares of the home improvement retailer's stock valued at $254,000 after buying an additional 30 shares during the period. Kwmg LLC grew its stake in shares of Home Depot by 4.6% during the 2nd quarter. Kwmg LLC now owns 17,459 shares of the home improvement retailer's stock valued at $6,401,000 after buying an additional 760 shares during the period. CGN Advisors LLC grew its stake in shares of Home Depot by 2.1% during the 2nd quarter. CGN Advisors LLC now owns 10,577 shares of the home improvement retailer's stock valued at $3,878,000 after buying an additional 218 shares during the period. GSB Wealth Management LLC lifted its holdings in shares of Home Depot by 2.3% during the 2nd quarter. GSB Wealth Management LLC now owns 11,296 shares of the home improvement retailer's stock valued at $4,142,000 after acquiring an additional 259 shares in the last quarter. Finally, Bfsg LLC lifted its holdings in shares of Home Depot by 0.8% during the 2nd quarter. Bfsg LLC now owns 14,945 shares of the home improvement retailer's stock valued at $5,479,000 after acquiring an additional 113 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Wolfe Research assumed coverage on shares of Home Depot in a report on Thursday, September 18th. They set an "outperform" rating and a $497.00 target price on the stock. 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's stock. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average target price of $435.60.

Insider Buying and Selling

In other news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction 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. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of HD stock opened at $412.86 on Tuesday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm has a market capitalization of $410.96 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.94 and a beta of 1.00. The company's fifty day moving average price is $395.79 and its two-hundred day moving average price is $373.58.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The business's quarterly revenue 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, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. Home Depot's payout ratio is presently 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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