The Home Depot, Inc. $HD Position Cut by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Home Depot by 21.6%, owning approximately 5.37 million shares worth nearly $2 billion after selling 1.48 million shares.
• Home Depot reported $3.56 earnings per share for the last quarter, missing estimates slightly, but achieved a revenue of $39.86 billion, surpassing expectations.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of approximately $427.48 according to analysts.

Wellington Management Group LLP lessened its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,367,427 shares of the home improvement retailer's stock after selling 1,481,157 shares during the quarter. Wellington Management Group LLP owned 0.54% of Home Depot worth $1,967,108,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HD. Brighton Jones LLC lifted its position in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. First Trust Advisors LP raised its holdings in Home Depot by 4.9% during the fourth quarter. First Trust Advisors LP now owns 680,703 shares of the home improvement retailer's stock worth $264,786,000 after purchasing an additional 31,948 shares in the last quarter. MML Investors Services LLC raised its holdings in Home Depot by 2.9% during the fourth quarter. MML Investors Services LLC now owns 281,218 shares of the home improvement retailer's stock worth $109,391,000 after purchasing an additional 7,972 shares in the last quarter. Finally, Landing Point Financial Group LLC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $419,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Mizuho boosted their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Royal Bank Of Canada decreased their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Stock Down 1.1%

HD traded down $4.29 on Thursday, reaching $397.45. The company's stock had a trading volume of 2,942,504 shares, compared to its average volume of 3,549,288. The stock has a market cap of $395.43 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 3.87 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.28. The business's 50 day moving average is $372.65 and its 200 day moving average is $371.64. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

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). The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

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.