Arcadia Investment Management Corp MI Lowers Holdings in The Home Depot, Inc. $HD

Arcadia Investment Management Corp MI reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,209 shares of the home improvement retailer’s stock after selling 647 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Home Depot were worth $5,210,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Mainstay Capital Management LLC ADV purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $263,000. WealthPlan Investment Management LLC purchased a new stake in Home Depot in the second quarter valued at approximately $1,149,000. Tower View Wealth Management LLC lifted its stake in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Home Depot during the first quarter worth $3,851,000. Finally, Shell Asset Management Co. boosted its position in shares of Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after buying an additional 15,002 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HD shares. Morgan Stanley boosted their price objective on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Truist Financial cut their price target on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Wells Fargo & Company reduced their price target on shares of Home Depot from $450.00 to $435.00 and set an “overweight” rating on the stock in a research report on Tuesday. Stifel Nicolaus restated a “hold” rating and issued a $370.00 price objective (down previously from $440.00) on shares of Home Depot in a report on Friday. Finally, Mizuho upped their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $429.33.

Insider Transactions at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $362.08 on Friday. The business has a 50-day simple moving average of $393.15 and a 200-day simple moving average of $381.69. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a market cap of $360.41 billion, a PE ratio of 24.60, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) 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 firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The firm’s 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. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

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.