Sovran Advisors LLC Has $1.57 Million Stake in The Home Depot, Inc. $HD

Key Points

• Sovran Advisors LLC has reduced its holdings in Home Depot by 13.6%, selling 673 shares in the second quarter, leaving them with a total of 4,274 shares valued at approximately $1.57 million.
• In its latest earnings report, Home Depot posted an EPS of $4.68 for the quarter, just below the analysts' expectation of $4.69, while revenue increased by 4.9% year-over-year to $45.28 billion.
• Home Depot also declared a quarterly dividend of $2.30, representing an annualized yield of 2.2%, with a payout ratio of 62.50%.

Sovran Advisors LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 13.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,274 shares of the home improvement retailer's stock after selling 673 shares during the quarter. Sovran Advisors LLC's holdings in Home Depot were worth $1,571,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV raised its stake in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC grew its holdings in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Nuveen LLC acquired a new position in Home Depot during the first quarter worth about $2,076,592,000. Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HD shares. Robert W. Baird lifted their price target on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Truist Financial lifted their target price on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Mizuho lifted their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. TD Securities lowered Home Depot to a "buy" rating in a report on Monday, June 2nd. Finally, Stifel Nicolaus lifted their price target on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.00.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

NYSE:HD traded down $1.71 during trading hours on Friday, reaching $415.77. The company had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The stock has a 50-day moving average of $394.94 and a two-hundred day moving average of $373.48. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market capitalization of $413.85 billion, a PE ratio of 28.25, a PEG ratio of 3.96 and a beta of 1.00. 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 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 company 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 earnings per share. The business's 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. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. 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 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.