The Home Depot, Inc. $HD Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Home Depot stake by 23.8% in the third quarter, selling 95,199 shares and retaining 305,236 shares valued at about $86.2 million.
• Home Depot reported quarterly EPS of $4.92, beating the $4.73 consensus, while revenue of $47.86 billion exceeded estimates and rose 5.7% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $375.45. The company also declared a quarterly dividend of $2.33 per share, equivalent to a 2.6% annualized yield.

Allspring Global Investments Holdings LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 305,236 shares of the home improvement retailer's stock after selling 95,199 shares during the period. Allspring Global Investments Holdings LLC's holdings in Home Depot were worth $86,217,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HD. BlackRock Inc. purchased a new position in Home Depot in the second quarter worth approximately $28,771,247,000. State Street Corp increased its holdings in Home Depot by 1.1% in the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock valued at $16,637,688,000 after buying an additional 499,168 shares during the last quarter. Bank of America Corp DE acquired a new stake in Home Depot in the second quarter valued at $5,780,468,000. Bank of New York Mellon Corp acquired a new stake in Home Depot in the second quarter valued at $2,777,396,000. Finally, Corient Private Wealth LP purchased a new stake in Home Depot during the 2nd quarter worth about $390,913,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Home Depot news, CAO Kimberly Scardino sold 675 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $305.95, for a total transaction of $206,516.25. Following the completion of the sale, the chief accounting officer directly owned 8,189 shares of the company's stock, valued at approximately $2,505,424.55. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowe sold 710 shares of Home Depot stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president owned 6,838 shares in the company, valued at $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,829 shares of company stock valued at $3,339,314 over the last 90 days. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Home Depot in a report on Friday, October 2nd. Stifel Nicolaus cut their target price on Home Depot from $346.00 to $322.00 and set a "hold" rating on the stock in a research report on Monday, October 26th. Guggenheim restated a "buy" rating and set a $425.00 target price on shares of Home Depot in a research note on Wednesday, August 19th. Finally, Jefferies Financial Group restated a "buy" rating and set a $398.00 target price on shares of Home Depot in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $375.45.

Home Depot Stock Up 3.0%

HD opened at $353.77 on Tuesday. The stock has a market capitalization of $352.95 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.53 and a beta of 0.93. The Home Depot, Inc. has a one year low of $277.15 and a one year high of $397.63. The business's 50-day simple moving average is $309.90 and its 200-day simple moving average is $333.92. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, September 3rd. Home Depot's payout ratio is 65.22%.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Home Depot Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

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