SeaCrest Wealth Management LLC Sells 2,086 Shares of The Home Depot, Inc. $HD

Key Points

• SeaCrest Wealth Management LLC reduced its stake in The Home Depot, Inc. by 14.6%, selling 2,086 shares in the 2nd quarter, now holding 12,153 shares valued at approximately $4.46 million.
• The company recently declared a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.2% and a payout ratio of 62.50%.
• Despite a 0.01 EPS miss in Q2 earnings, Home Depot reported revenue of $45.28 billion, indicating a year-over-year growth of 4.9%.

SeaCrest Wealth Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,153 shares of the home improvement retailer's stock after selling 2,086 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Home Depot were worth $4,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in 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 acquiring an additional 7,203 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after buying an additional 565 shares in the last quarter. State of Wyoming raised its stake in shares of Home Depot by 29.1% in the 4th quarter. State of Wyoming now owns 666 shares of the home improvement retailer's stock valued at $259,000 after purchasing an additional 150 shares in the last quarter. Retirement Planning Group LLC raised its stake in Home Depot by 7.1% during the fourth quarter. Retirement Planning Group LLC now owns 4,690 shares of the home improvement retailer's stock worth $1,824,000 after acquiring an additional 312 shares during the period. Finally, Vise Technologies Inc. raised its stake in Home Depot by 31.0% during the fourth quarter. Vise Technologies Inc. now owns 15,827 shares of the home improvement retailer's stock worth $6,156,000 after acquiring an additional 3,745 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of Home Depot 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 completion of the sale, the executive vice president owned 24,235 shares of the company's stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 in the last quarter. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HD. DA Davidson reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Robert W. Baird raised their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Wells Fargo & Company boosted their price target 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. Finally, Wolfe Research initiated coverage on shares of Home Depot in a research note on Thursday. They issued an "outperform" rating and a $497.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $435.00.

Home Depot Price Performance

NYSE HD traded down $1.71 during mid-day trading on Friday, hitting $415.77. The stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The firm's 50 day moving average is $394.94 and its 200 day moving average is $373.39. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve 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 stock has a market capitalization of $413.85 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.94 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results 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). The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is 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.