The Home Depot, Inc. $HD Shares Sold by Gradient Investments LLC

Key Points

• Gradient Investments LLC reduced its stake in Home Depot by 9.5%, owning 35,941 shares worth approximately $13.18 million after selling 3,770 shares in Q2.
• Multiple analysts have raised their price targets for Home Depot, with most setting targets around $450, indicating strong market confidence in the stock.
• Home Depot reported earnings of $4.68 per share for the last quarter, slightly missing estimates, but showed a revenue increase of 4.9% compared to the previous year.

Gradient Investments LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,941 shares of the home improvement retailer's stock after selling 3,770 shares during the period. Gradient Investments LLC's holdings in Home Depot were worth $13,178,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares during the last quarter. Compass Financial Services Inc bought a new position in Home Depot during the 1st quarter valued at $41,000. Quest 10 Wealth Builders Inc. boosted its stake in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. Finally, Spurstone Advisory Services LLC bought a new position in Home Depot during the 4th quarter valued at $45,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Robert W. Baird increased 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. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Mizuho increased their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. DA Davidson reiterated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Gordon Haskett raised their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Trading Up 0.0%

Home Depot stock opened at $422.88 on Tuesday. The firm's 50-day moving average is $391.13 and its 200-day moving average is $372.40. 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 Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a market cap of $420.93 billion, a P/E ratio of 28.73, a PEG ratio of 4.01 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of Home Depot 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 sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. 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 90 days. Corporate insiders own 0.10% of the company's stock.

About Home Depot

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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