The Home Depot, Inc. $HD Shares Sold by RNC Capital Management LLC

Key Points

• RNC Capital Management LLC reduced its stake in Home Depot by 0.9%, now holding 114,394 shares valued at approximately $41.9 million, representing 2.1% of their investment portfolio.
• Home Depot recently reported earnings of $4.68 per share, slightly missing analysts' estimates while achieving a revenue of $45.28 billion, which was a 4.9% increase from the previous year.
• The company announced a quarterly dividend of $2.30 per share, which will be paid to shareholders on September 18th, reflecting an annualized yield of 2.2% and a dividend payout ratio of 62.5%.

RNC Capital Management LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 114,394 shares of the home improvement retailer's stock after selling 985 shares during the quarter. Home Depot makes up about 2.1% of RNC Capital Management LLC's investment portfolio, making the stock its 20th largest holding. RNC Capital Management LLC's holdings in Home Depot were worth $41,924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HD. Invst LLC grew its holdings in Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after purchasing an additional 28 shares during the period. Financial Insights Inc. boosted its holdings in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after acquiring an additional 28 shares during the period. Wayfinding Financial LLC boosted its holdings in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after acquiring an additional 28 shares during the period. Pure Portfolios Holdings LLC boosted its holdings in shares of Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after acquiring an additional 28 shares during the period. Finally, First Interstate Bank boosted its holdings in shares of Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock worth $3,306,000 after acquiring an additional 28 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Robert W. Baird boosted their price objective on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $432.52.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares of the company's stock, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value 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. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,532 shares of company stock worth $18,648,987. Corporate insiders own 0.10% of the company's stock.

Home Depot Price Performance

HD stock opened at $418.70 on Monday. 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 12 month low of $326.31 and a 12 month high of $439.37. The firm has a market cap of $416.77 billion, a P/E ratio of 28.44, a P/E/G ratio of 3.97 and a beta of 1.00. The company's 50-day moving average price is $385.21 and its two-hundred day moving average price is $371.13.

Home Depot (NYSE:HD - Get Free Report) last released its 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 prior year, the business earned $4.60 earnings per share. Home Depot's quarterly revenue 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. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

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