Zurich Insurance Group Ltd FI Sells 95,713 Shares of The Home Depot, Inc. $HD

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in The Home Depot, Inc. by 38.7% during the 1st quarter, selling 95,713 shares and leaving it with holdings worth approximately $55.47 million.
• Home Depot's latest quarterly earnings report showed a miss in EPS, with a reported $4.68 compared to the consensus estimate of $4.69, alongside a 4.9% increase in overall revenue year-over-year.
• The company recently announced a quarterly dividend of $2.30 per share, which will be paid out on September 18th, reflecting a 2.2% yield based on the current share price.

Zurich Insurance Group Ltd FI cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,363 shares of the home improvement retailer's stock after selling 95,713 shares during the period. Zurich Insurance Group Ltd FI's holdings in Home Depot were worth $55,473,000 at the end of the most recent quarter.

Other hedge funds 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 worth approximately $31,000. Iron Horse Wealth Management LLC increased 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 purchasing an additional 46 shares in the last quarter. Quest 10 Wealth Builders Inc. increased 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 purchasing an additional 30 shares in the last quarter. Spurstone Advisory Services LLC bought a new stake in Home Depot during the 4th quarter valued at $45,000. Finally, Vega Investment Solutions bought a new stake in Home Depot during the 4th quarter valued at $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Gordon Haskett lifted their price objective on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $432.52.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,532 shares of company stock valued at $18,648,987. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Shares of NYSE:HD traded down $0.09 during midday trading on Friday, reaching $423.33. The company had a trading volume of 5,003,481 shares, compared to its average volume of 3,572,982. The company's 50 day moving average price is $388.99 and its 200 day moving average price is $372.26. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a market cap of $421.38 billion, a P/E ratio of 28.76, a P/E/G ratio of 3.92 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

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

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio is 62.50%.

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.