The Manufacturers Life Insurance Company Sells 11,819 Shares of The Home Depot, Inc. $HD

Key Points

• The Manufacturers Life Insurance Company has reduced its shareholding in The Home Depot by 1.5%, now owning approximately 0.08% of the company valued at $280.3 million.
• Home Depot's CFO and EVP sold shares on August 20th, reflecting a decrease in their ownership, with a total of 46,532 shares valued at nearly $18.65 million sold by insiders in the last 90 days.
• Home Depot recently declared a quarterly dividend of $2.30 per share, with an annualized dividend yield of 2.3% and a payout ratio of 62.50%.

The Manufacturers Life Insurance Company reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 764,930 shares of the home improvement retailer's stock after selling 11,819 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Home Depot worth $280,339,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HD. Magnetar Financial LLC acquired a new stake in shares of Home Depot in the first quarter valued at approximately $7,162,000. Driehaus Capital Management LLC acquired a new stake in shares of Home Depot during the 1st quarter valued at $671,000. WPG Advisers LLC acquired a new stake in shares of Home Depot in the 1st quarter valued at $157,000. State of Wyoming lifted its stake in shares of Home Depot by 45.8% in the 1st quarter. State of Wyoming now owns 971 shares of the home improvement retailer's stock valued at $356,000 after purchasing an additional 305 shares during the last quarter. Finally, TD Capital Management LLC raised its holdings in Home Depot by 30.3% in the 1st quarter. TD Capital Management LLC now owns 666 shares of the home improvement retailer's stock worth $244,000 after acquiring an additional 155 shares during the period. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of HD traded down $0.36 during mid-day trading on Tuesday, hitting $406.41. 3,327,636 shares of the company traded hands, compared to its average volume of 3,544,718. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. 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 business has a 50-day moving average of $381.41 and a 200 day moving average of $370.83. The stock has a market capitalization of $404.53 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 3.86 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly 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 company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. Home Depot's revenue for the quarter 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. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on 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 sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,532 shares of company stock valued at $18,648,987. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on HD. Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial upped their price objective 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. Morgan Stanley upped their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $432.52.

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.