Gateway Investment Advisers LLC Sells 9,208 Shares of The Home Depot, Inc. $HD

Key Points

• Gateway Investment Advisers LLC reduced its holdings in The Home Depot by 3.4% during the second quarter, now owning 263,602 shares valued at approximately $96.6 million.
• Insider sales were reported, with EVP Angie Brown selling 1,000 shares and EVP William D. Bastek selling 2,303 shares, reflecting a decrease in their positions by 20.67% and 8.68% respectively.
• Home Depot's recent earnings report showed a slight miss on EPS estimates, with reported earnings of $4.68 per share, compared to analysts' expectations of $4.69.

Gateway Investment Advisers LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,602 shares of the home improvement retailer's stock after selling 9,208 shares during the quarter. Home Depot makes up 1.1% of Gateway Investment Advisers LLC's holdings, making the stock its 15th biggest position. Gateway Investment Advisers LLC's holdings in Home Depot were worth $96,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of HD. Baron Wealth Management LLC purchased a new position in Home Depot in the second quarter valued at approximately $266,000. Seneca House Advisors increased its holdings in Home Depot by 5.7% in the 2nd quarter. Seneca House Advisors now owns 10,082 shares of the home improvement retailer's stock worth $3,697,000 after acquiring an additional 542 shares during the last quarter. StrongBox Wealth LLC raised its stake in Home Depot by 4.5% in the 2nd quarter. StrongBox Wealth LLC now owns 11,682 shares of the home improvement retailer's stock valued at $4,283,000 after acquiring an additional 505 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Home Depot by 5.9% during the second quarter. Aaron Wealth Advisors LLC now owns 7,987 shares of the home improvement retailer's stock valued at $2,929,000 after purchasing an additional 443 shares during the last quarter. Finally, Blodgett Wealth Advisors LLC increased its stake in shares of Home Depot by 0.5% in the second quarter. Blodgett Wealth Advisors LLC now owns 5,856 shares of the home improvement retailer's stock worth $2,147,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP William D. Bastek sold 2,303 shares of the firm's stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% 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 over the last three months. Corporate insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HD. Mizuho raised their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Stifel Nicolaus boosted their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Morgan Stanley raised their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, Truist Financial increased their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $435.00.

Home Depot Price Performance

HD traded down $1.71 during trading on Friday, reaching $415.77. The stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The business has a 50-day moving average of $394.94 and a 200-day moving average of $373.48. The stock has a market cap of $413.85 billion, a PE ratio of 28.25, a PEG ratio of 3.96 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the business earned $4.60 earnings per share. The firm'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, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

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.