Sumitomo Mitsui DS Asset Management Company Ltd Reduces Position in The Home Depot, Inc. $HD

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has reduced its stake in The Home Depot by 1.1%, now holding 393,070 shares valued at $144.12 million, making up 1.3% of their investment portfolio.
• Several institutional investors have significantly increased their stakes in Home Depot, notably Asset Planning Services Inc. LA ADV, which raised its position by 99,400.7%, resulting in ownership of approximately $6.95 billion.
• Home Depot's recent quarterly earnings report showed a slight miss on EPS expectations, with reported earnings of $4.68 compared to forecasts of $4.69 and a revenue of $45.28 billion.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,070 shares of the home improvement retailer's stock after selling 4,188 shares during the period. Home Depot comprises about 1.3% of Sumitomo Mitsui DS Asset Management Company Ltd's investment portfolio, making the stock its 11th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Home Depot were worth $144,115,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HD. Client 1ST Advisory Group LLC lifted its position in shares of Home Depot by 1.5% in the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock worth $688,000 after purchasing an additional 27 shares during the period. Invst LLC lifted its position in Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares during the period. Financial Insights Inc. lifted its position in Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the period. Wayfinding Financial LLC lifted its position in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares during the period. Finally, Pure Portfolios Holdings LLC lifted its position in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD stock 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 business has a fifty day moving average price of $394.94 and a 200-day moving average price 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 cap of $413.85 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 3.96 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

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 business 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 business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share 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 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Robert W. Baird lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Mizuho lifted their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Stifel Nicolaus lifted their price target 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. TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Finally, Wolfe Research began coverage on shares of Home Depot in a research report on Thursday. They set an "outperform" rating and a $497.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.00.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William D. Bastek sold 2,303 shares of the company's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at $10,254,313.20. This represents a 8.68% 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.

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.