Robertson Stephens Wealth Management LLC Trims Stake in The Home Depot, Inc. $HD

Key Points

• Robertson Stephens Wealth Management LLC reduced its stake in The Home Depot, Inc. by 8.3% during the second quarter, now holding 18,833 shares valued at approximately $6.9 million.
• Several institutional investors increased their positions in Home Depot, with Galvin Gaustad & Stein LLC raising its stake by 11.2%, now owning 57,740 shares worth about $21.17 million.
• Home Depot recently reported $4.68 earnings per share for the last quarter, slightly below analysts' expectations, and declared a quarterly dividend of $2.30, yielding 2.4%.

Robertson Stephens Wealth Management LLC lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,833 shares of the home improvement retailer's stock after selling 1,694 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Home Depot were worth $6,905,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Endeavor Private Wealth Inc. raised its stake in shares of Home Depot by 6.8% in the second quarter. Endeavor Private Wealth Inc. now owns 1,897 shares of the home improvement retailer's stock valued at $696,000 after acquiring an additional 120 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Home Depot by 0.3% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 43,869 shares of the home improvement retailer's stock worth $16,084,000 after buying an additional 134 shares during the period. L. Roy Papp & Associates LLP increased its stake in Home Depot by 1.3% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 60,289 shares of the home improvement retailer's stock worth $22,104,000 after buying an additional 761 shares during the period. Galvin Gaustad & Stein LLC increased its stake in Home Depot by 11.2% in the 2nd quarter. Galvin Gaustad & Stein LLC now owns 57,740 shares of the home improvement retailer's stock worth $21,170,000 after buying an additional 5,803 shares during the period. Finally, Cardano Risk Management B.V. increased its stake in Home Depot by 3.0% in the 2nd quarter. Cardano Risk Management B.V. now owns 320,913 shares of the home improvement retailer's stock worth $117,660,000 after buying an additional 9,366 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 2,303 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were 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 owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company's stock.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company raised their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Mizuho raised their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Stifel Nicolaus raised their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Truist Financial raised their target price 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 equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $435.42.

Home Depot Trading Down 0.5%

NYSE HD opened at $375.86 on Friday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The company has a market capitalization of $374.13 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00. The company's 50-day simple moving average is $403.54 and its two-hundred day simple moving average is $377.09. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

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 for the quarter, missing analysts' consensus estimates 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 in the prior year, the business posted $4.60 earnings per share. The firm's quarterly revenue 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 analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Home Depot Company 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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