The Home Depot, Inc. $HD Shares Sold by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services trimmed its Home Depot stake by 2.5%, selling 13,039 shares in the third quarter; it still held 514,281 shares valued at about $146.3 million.
• Home Depot reported quarterly EPS of $4.92, beating the $4.73 consensus, while revenue of $47.86 billion also exceeded estimates and rose 5.7% year over year.
• Analysts hold a “Moderate Buy” consensus rating with an average price target of $375.31. Company insiders sold 9,829 shares worth roughly $3.34 million over the past 90 days.

Commonwealth Equity Services LLC cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 514,281 shares of the home improvement retailer's stock after selling 13,039 shares during the quarter. Commonwealth Equity Services LLC owned about 0.05% of Home Depot worth $146,308,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia bought a new stake in Home Depot during the second quarter worth approximately $118,723,000. AFT Forsyth & Company Inc. acquired a new position in Home Depot in the second quarter worth approximately $1,896,000. Field & Main Bank acquired a new position in Home Depot in the second quarter worth approximately $6,286,000. State Street Corp increased its holdings in shares of 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 in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Home Depot by 9.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer's stock valued at $17,315,000 after buying an additional 4,292 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Kimberly Scardino sold 675 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $305.95, for a total value 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 represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard McPhail sold 5,989 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the completion of the sale, the chief financial officer directly owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,829 shares of company stock valued at $3,339,314 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Home Depot Trading Down 1.5%

NYSE HD opened at $349.96 on Friday. The Home Depot, Inc. has a twelve month low of $277.15 and a twelve month high of $397.63. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The stock has a market cap of $349.15 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.53 and a beta of 0.93. The firm's 50 day moving average price is $309.12 and its two-hundred day moving average price is $334.24.

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, beating the consensus estimate of $4.73 by $0.19. The company had revenue of $47.86 billion for the quarter, compared to the consensus estimate 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 was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot's payout ratio is presently 65.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Guggenheim reiterated a "buy" rating and set a $425.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Wells Fargo & Company lifted their target price on Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. DA Davidson reaffirmed a "buy" rating and set a $377.00 target price on shares of Home Depot in a research report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a "buy" rating and set a $398.00 target price on shares of Home Depot in a report on Tuesday, August 18th. Finally, Argus reissued a "buy" rating and issued a $400.00 price target on shares of Home Depot in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $375.31.

More Home Depot News

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

• Positive Sentiment: After the midterm elections, housing-related stocks rallied as Treasury yields eased and investors anticipated lower borrowing costs and potential housing-affordability measures. That backdrop has renewed interest in Home Depot and helped lift its shares recently. Home Depot jumped, what is driving attention now?
• Neutral Sentiment: Home Depot joined other companies objecting to a proposed tokenized-stock venue. The reports give no reason for the objection or indication of a direct effect on the retailer’s operations. Apple and Home Depot join list of objectors to tokenized stock plan
• Negative Sentiment: The housing backdrop remains a concern: housing turnover is historically weak, and Home Depot’s management has indicated that customers are waiting for greater certainty before taking on big projects. One reason to buy Home Depot stock during a weak housing market
• Negative Sentiment: Analysts have flagged potential margin headwinds from rising input and fuel costs, as well as acquisition-related product mix, despite tariff refunds supporting recent margins. Home Depot's margin outlook faces inflationary headwinds

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.