The Home Depot, Inc. $HD Stock Sold by BOCHK Asset Management Ltd

Key Points

• BOCHK Asset Management sharply reduced its Home Depot stake by 98.1% in the third quarter, selling 10,200 shares and retaining 200 shares valued at approximately $57,000.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $375.31, despite some firms lowering their targets.
• Home Depot reported better-than-expected quarterly results, with $4.92 in EPS and $47.86 billion in revenue, while paying a quarterly dividend of $2.33 per share.

BOCHK Asset Management Ltd trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 98.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200 shares of the home improvement retailer's stock after selling 10,200 shares during the period. BOCHK Asset Management Ltd's holdings in Home Depot were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of HD. BlackRock Inc. bought a new position in shares of Home Depot during the second quarter worth about $28,771,247,000. Bank of America Corp DE bought a new position in shares of Home Depot during the 2nd quarter worth approximately $5,780,468,000. Bank of New York Mellon Corp acquired a new stake in shares of Home Depot during the 2nd quarter worth about $2,777,396,000. Corient Private Wealth LP bought a new position in shares of Home Depot during the second quarter worth approximately $390,913,000. Finally, Legal & General Group Plc bought a new stake in shares of Home Depot in the second quarter valued at about $1,953,883,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on HD. Sanford C. Bernstein reduced their target price on Home Depot from $354.00 to $344.00 and set a "market perform" rating on the stock in a report on Wednesday, September 9th. TD Cowen reiterated a "buy" rating on shares of Home Depot in a research report on Monday, August 10th. Guggenheim reaffirmed a "buy" rating and issued a $425.00 price objective on shares of Home Depot in a research note on Wednesday, August 19th. Stifel Nicolaus cut their price target on Home Depot from $346.00 to $322.00 and set a "hold" rating on the stock in a report on Monday, October 26th. Finally, Mizuho boosted their price objective on Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $375.31.

Home Depot Stock Up 3.6%

HD opened at $341.17 on Tuesday. The Home Depot, Inc. has a twelve month low of $277.15 and a twelve month high of $397.63. The company's 50-day moving average price is $308.56 and its two-hundred day moving average price is $334.72. The stock has a market cap of $340.38 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 2.26 and a beta of 1.00. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The firm had revenue of $47.86 billion for the quarter, compared to analysts' expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot's dividend payout ratio is presently 65.22%.

Insider Activity

In other news, CAO Kimberly Scardino sold 675 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $305.95, for a total value of $206,516.25. Following the completion of the transaction, the chief accounting officer directly owned 8,189 shares in the company, valued at approximately $2,505,424.55. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard McPhail sold 5,989 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the sale, the chief financial officer directly owned 48,104 shares in the company, valued at $16,759,433.60. This trade represents a 11.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,829 shares of company stock valued at $3,339,314. Corporate insiders own 0.08% of the company's stock.

Home Depot Company Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.

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