Synovus Financial Corp Lowers Holdings in The Home Depot, Inc. $HD

Key Points

• Synovus Financial Corp has reduced its stake in The Home Depot by 1.5%, selling 2,710 shares and holding 183,499 shares, which represents about 0.9% of their portfolio valued at $67.25 million.
• Insider transactions included significant sales by CEO Edward P. Decker and EVP Angie Brown, who sold shares at average prices of $397.22 and $404.07, respectively, leading to a notable decrease in their ownership percentages.
• The Home Depot's recent quarterly earnings report indicated an EPS of $4.68, slightly missing expectations, while the company has announced a quarterly dividend of $2.30, representing a yield of 2.2%.

Synovus Financial Corp decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,499 shares of the home improvement retailer's stock after selling 2,710 shares during the period. Home Depot accounts for about 0.9% of Synovus Financial Corp's portfolio, making the stock its 20th biggest position. Synovus Financial Corp's holdings in Home Depot were worth $67,251,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HD. Oak Harvest Investment Services boosted its position in shares of Home Depot by 12.3% during the 1st quarter. Oak Harvest Investment Services now owns 31,046 shares of the home improvement retailer's stock worth $11,378,000 after purchasing an additional 3,389 shares in the last quarter. ICONIQ Capital LLC raised its holdings in Home Depot by 12.5% during the first quarter. ICONIQ Capital LLC now owns 4,626 shares of the home improvement retailer's stock worth $1,695,000 after buying an additional 514 shares during the last quarter. Southeast Asset Advisors LLC grew its holdings in shares of Home Depot by 55.8% during the first quarter. Southeast Asset Advisors LLC now owns 5,076 shares of the home improvement retailer's stock valued at $1,860,000 after buying an additional 1,817 shares during the last quarter. Oliver Luxxe Assets LLC increased its position in shares of Home Depot by 27.8% during the first quarter. Oliver Luxxe Assets LLC now owns 1,572 shares of the home improvement retailer's stock worth $576,000 after acquiring an additional 342 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Home Depot by 0.8% in the 1st quarter. APG Asset Management N.V. now owns 1,039,994 shares of the home improvement retailer's stock worth $352,849,000 after acquiring an additional 7,912 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HD. Evercore ISI set a $400.00 target price on Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. 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 note on Wednesday, August 20th. Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Gordon Haskett boosted their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Morgan Stanley lifted their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment 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. According to MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $432.52.

Home Depot Price Performance

HD stock traded down $0.52 during mid-day trading on Thursday, hitting $407.72. 4,048,238 shares of the stock were exchanged, compared to its average volume of 3,553,738. The business has a fifty day moving average price of $378.04 and a 200 day moving average price of $371.50. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 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 $405.65 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.86 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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). 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's payout ratio is currently 62.50%.

Insider Activity

In other news, EVP William D. Bastek sold 3,783 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% 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 hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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 of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,532 shares of company stock valued at $18,648,987. Company insiders own 0.10% of the company's stock.

Home Depot 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.