The Home Depot, Inc. $HD Shares Sold by Cypress Capital Group

Key Points

• Cypress Capital Group has reduced its stake in Home Depot by 3.4%, owning 23,391 shares after selling 814 shares in the second quarter, equating to approximately $8.58 million in value.
• Home Depot reported quarterly earnings of $4.68 per share, missing expectations slightly, with revenue of $45.28 billion, a year-over-year increase of 4.9%.
• The company has declared a quarterly dividend of $2.30 per share, with a current yield of 2.4% and a payout ratio of 62.50%.

Cypress Capital Group lessened its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,391 shares of the home improvement retailer's stock after selling 814 shares during the period. Home Depot comprises about 1.1% of Cypress Capital Group's portfolio, making the stock its 24th largest holding. Cypress Capital Group's holdings in Home Depot were worth $8,576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mainstay Capital Management LLC ADV acquired a new stake in shares of Home Depot during the 2nd quarter valued at $263,000. Tower View Wealth Management LLC lifted its position in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock valued at $5,938,000 after acquiring an additional 671 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Home Depot during the 1st quarter valued at $3,851,000. Shell Asset Management Co. lifted its position in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock valued at $17,663,000 after acquiring an additional 15,002 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Home Depot in the first quarter valued at $406,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $375.86 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The business has a fifty day simple moving average of $403.54 and a 200 day simple moving average of $377.30. The firm has a market cap of $374.13 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 3.57 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 (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the prior year, the business posted $4.60 earnings per share. Home Depot's revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Wolfe Research assumed coverage on Home Depot in a report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 target price for the company. Oppenheimer increased their target price on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday, September 25th. Stifel Nicolaus increased their target price on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Home Depot in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $435.42.

Insider Activity

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the 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 transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company's stock.

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.

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