Confluence Investment Management LLC Sells 2,538 Shares of The Home Depot, Inc. $HD

Key Points

• Confluence Investment Management LLC reduced its stake in The Home Depot by 0.7%, now holding 351,141 shares valued at approximately $128.7 million.
• Home Depot's recent earnings report showed EPS of $4.68, slightly below the analysts' expectation of $4.69, with quarterly revenue of $45.28 billion.
• The company declared a quarterly dividend of $2.30, reflecting a 2.2% dividend yield, with the payment scheduled for September 18th.

Confluence Investment Management LLC decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,141 shares of the home improvement retailer's stock after selling 2,538 shares during the period. Home Depot accounts for 1.8% of Confluence Investment Management LLC's investment portfolio, making the stock its 15th biggest holding. Confluence Investment Management LLC's holdings in Home Depot were worth $128,742,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV increased its stake in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares during the period. Nuveen LLC bought a new stake in shares of Home Depot in the 1st quarter worth approximately $2,076,592,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Home Depot by 19.3% in the 1st 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 purchasing an additional 1,494,261 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

HD has been the topic of a number of research reports. Guggenheim reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Morgan Stanley lifted their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Wells Fargo & Company lifted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a 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 stock a "buy" rating in a report on Monday, August 18th. Finally, Robert W. Baird lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" 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 issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Stock Performance

Home Depot stock traded up $0.19 during mid-day trading on Monday, reaching $422.88. The company's stock had a trading volume of 4,884,093 shares, compared to its average volume of 3,826,500. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market capitalization of $420.93 billion, a P/E ratio of 28.73, a PEG ratio of 4.01 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. The firm's fifty day moving average price is $391.13 and its two-hundred day moving average price is $372.40.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the business earned $4.60 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. 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 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is owned by insiders.

Home Depot Company 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.