Waverly Advisors LLC Decreases Holdings in The Home Depot, Inc. $HD

Key Points

• Waverly Advisors reduced its Home Depot position by 7.2% in the second quarter, selling 11,197 shares and retaining 144,880 shares valued at approximately $51.1 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $375.54. Wells Fargo raised its target to $400, while other analysts set targets between $354 and $421.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, up 5.7% year over year. The company declared a quarterly dividend of $2.33 per share, representing a 3.0% annualized yield.

Waverly Advisors LLC lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,880 shares of the home improvement retailer's stock after selling 11,197 shares during the period. Waverly Advisors LLC's holdings in Home Depot were worth $51,096,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia acquired a new stake in shares of Home Depot in the second quarter valued at approximately $118,723,000. Gator Capital Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $3,693,000. AFT Forsyth & Company Inc. acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $1,896,000. Field & Main Bank acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $6,286,000. Finally, King Luther Capital Management Corp lifted its stake in Home Depot by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,240,478 shares of the home improvement retailer's stock valued at $426,848,000 after buying an additional 7,180 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Piper Sandler cut their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Sanford C. Bernstein restated a "market perform" rating and issued a $354.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Morgan Stanley decreased their price objective on Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Finally, Argus reiterated a "buy" rating and set a $400.00 price objective on shares of Home Depot in a research report on Wednesday, August 19th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average price target of $375.54.

Home Depot Trading Down 2.3%

Shares of HD stock opened at $313.58 on Wednesday. The firm's 50-day simple moving average is $337.98 and its 200-day simple moving average is $335.09. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The firm has a market cap of $312.86 billion, a P/E ratio of 21.94, a PEG ratio of 3.53 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the previous year, the firm earned $4.68 earnings per share. Home Depot's revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is 65.22%.

Insider Activity

In related news, CFO Richard V. Mcphail sold 5,989 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the transaction, the chief financial officer directly owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Roseborough sold 2,455 shares of Home Depot stock in a transaction on Friday, August 28th. The shares were sold at an average price of $328.77, for a total value of $807,130.35. Following the completion of the transaction, the executive vice president owned 14,061 shares in the company, valued at $4,622,834.97. The trade was a 14.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,154 shares of company stock valued at $3,132,798 in the last ninety days. Company insiders own 0.08% of the company's stock.

Home Depot Company Profile

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.

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