Procyon Advisors LLC Cuts Stake in The Home Depot, Inc. $HD

Key Points

• Procyon Advisors LLC reduced its stake in The Home Depot by 23.7% in Q2, now holding 26,726 shares, valued at approximately $9.8 million.
• The Home Depot reported a quarterly earnings per share (EPS) of $4.68, slightly missing estimates, with revenues of $45.28 billion, which was a 4.9% increase year-over-year.
• The company has announced a quarterly dividend of $2.30 per share, representing an annualized dividend yield of 2.2%, with a payout ratio of 62.5%.

Procyon Advisors LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,726 shares of the home improvement retailer's stock after selling 8,312 shares during the period. Home Depot comprises 0.9% of Procyon Advisors LLC's portfolio, making the stock its 25th biggest position. Procyon Advisors LLC's holdings in Home Depot were worth $9,799,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Abound Financial LLC acquired a new stake in shares of Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its holdings in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Home Depot during the first quarter worth approximately $41,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the second quarter worth approximately $41,000. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Down 0.4%

NYSE HD traded down $1.71 on Friday, hitting $415.77. The company's stock had a trading volume of 6,709,599 shares, compared to its average volume of 3,720,799. The company has a quick ratio of 0.34, a current ratio of 1.15 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 company's 50-day moving average is $394.94 and its 200 day moving average is $373.39. The firm has a market cap of $413.85 billion, a PE ratio of 28.25, a PEG ratio of 3.94 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted 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 return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the business posted $4.60 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analyst Weigh In

HD has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective 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. DA Davidson reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Mizuho lifted their target price 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. Morgan Stanley lifted their target price 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. Finally, Robert W. Baird lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $435.00.

Insider Transactions at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value 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. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently 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.