The Home Depot, Inc. $HD Stock Position Reduced by Hudson Value Partners LLC

Key Points

• Hudson Value Partners LLC has reduced its stake in The Home Depot, Inc. by 28.2%, now holding 5,535 shares valued at approximately $2.03 million.
• Several institutional investors, including Client 1ST Advisory Group LLC and Financial Insights Inc., have increased their holdings in Home Depot during the first quarter of 2023.
• A set of analysts have raised their price targets for Home Depot, with Wells Fargo increasing its target from $420.00 to $450.00, indicating a strong positive outlook on the stock.

Hudson Value Partners LLC decreased its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 28.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,535 shares of the home improvement retailer's stock after selling 2,176 shares during the quarter. Hudson Value Partners LLC's holdings in Home Depot were worth $2,029,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Client 1ST Advisory Group LLC raised its holdings in shares of Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock worth $688,000 after acquiring an additional 27 shares during the period. Financial Insights Inc. increased its holdings in Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC increased its holdings in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC raised its stake in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank lifted its holdings in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. DA Davidson reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho lifted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Oppenheimer boosted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research report on Thursday, September 25th. Finally, Truist Financial raised their target price on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. 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, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $436.40.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. 0.10% of the stock is owned by company insiders.

Home Depot Stock Down 1.9%

Shares of HD opened at $397.46 on Thursday. 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 Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The firm's 50 day moving average is $401.81 and its 200-day moving average is $375.61. The stock has a market capitalization of $395.63 billion, a PE ratio of 27.00, a P/E/G ratio of 3.84 and a beta of 1.01.

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 (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 for the quarter, compared to analyst estimates of $45.43 billion. During the same period in the prior year, the company earned $4.60 EPS. The company'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. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is presently 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.

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