Salem Investment Counselors Inc. Decreases Position in The Home Depot, Inc. $HD

Key Points

• Salem Investment Counselors Inc. reduced its stake in The Home Depot by 3.5%, owning 22,452 shares valued at approximately $8.23 million after selling 818 shares in the second quarter.
• Home Depot reported a quarterly earnings per share (EPS) of $4.68, slightly missing the consensus estimate of $4.69, with revenue of $45.28 billion, compared to an expected $45.43 billion.
• The company recently declared a quarterly dividend of $2.30 per share, reflecting a 2.2% yield and a dividend payout ratio of 62.50%.

Salem Investment Counselors Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,452 shares of the home improvement retailer's stock after selling 818 shares during the period. Salem Investment Counselors Inc.'s holdings in Home Depot were worth $8,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Client 1ST Advisory Group LLC raised its position in Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock valued at $688,000 after purchasing an additional 27 shares during the period. Invst LLC raised its holdings in shares of Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares during the period. Financial Insights Inc. raised its holdings in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after buying an additional 28 shares during the period. Wayfinding Financial LLC raised its holdings in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after buying an additional 28 shares during the period. Finally, Pure Portfolios Holdings LLC raised its holdings in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.0%

HD opened at $423.33 on Friday. The stock's fifty day moving average is $390.03 and its two-hundred day moving average is $372.34. The company has a market capitalization of $421.38 billion, a P/E ratio of 28.76, a PEG ratio of 4.01 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week 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 announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HD shares. Morgan Stanley increased their price target on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Stifel Nicolaus increased their price target on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Finally, Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $432.52.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on 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 sale, the chief executive officer owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,532 shares of company stock worth $18,648,987. 0.10% of the stock is currently owned by company insiders.

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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