Union Bancaire Privee UBP SA Sells 10,454 Shares of The Home Depot, Inc. $HD

Key Points

• Union Bancaire Privee UBP SA decreased its stake in The Home Depot, Inc. by 12.8%, selling 10,454 shares, leaving it with 71,032 shares valued at approximately $24.8 million.
• Analysts have raised their price targets for Home Depot, with Wells Fargo setting a new target of $450.00 and Truist Financial at $433.00, indicating positive sentiment towards the stock.
• The company reported earnings of $4.68 per share for the quarter, just missing the consensus estimate by $0.01, amidst a revenue of $45.28 billion which also fell short of expectations.

Union Bancaire Privee UBP SA reduced its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,032 shares of the home improvement retailer's stock after selling 10,454 shares during the period. Union Bancaire Privee UBP SA's holdings in Home Depot were worth $24,809,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ransom Advisory Ltd purchased a new stake in Home Depot during the first quarter worth about $3,851,000. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot during the first quarter worth about $406,000. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after buying an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV increased its stake in shares of Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Home Depot by 4.1% in the first quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer's stock worth $155,131,000 after purchasing an additional 16,654 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HD has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Truist Financial raised 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. JPMorgan Chase & Co. cut their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Morgan Stanley raised 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, DA Davidson restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $436.40.

Home Depot Trading Down 0.8%

Shares of Home Depot stock opened at $406.70 on Tuesday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a market cap of $404.82 billion, a PE ratio of 27.63, a PEG ratio of 3.89 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 0.34. The company has a 50 day simple moving average of $400.71 and a two-hundred day simple moving average of $375.25.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 quarter in the previous year, the firm earned $4.60 earnings per share. The company'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. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot's payout ratio is presently 62.50%.

Insider Transactions at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $6,635,234.11. The trade was 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 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company's stock.

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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