Bell Asset Management Ltd Sells 3,312 Shares of The Home Depot, Inc. $HD

Bell Asset Management Ltd lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 21.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,956 shares of the home improvement retailer’s stock after selling 3,312 shares during the quarter. Bell Asset Management Ltd’s holdings in Home Depot were worth $4,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Brighton Jones LLC boosted its stake in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. United Bank boosted its position in Home Depot by 14.9% in the first quarter. United Bank now owns 5,023 shares of the home improvement retailer’s stock worth $1,841,000 after purchasing an additional 653 shares during the last quarter. Fiera Capital Corp grew its stake in Home Depot by 21.3% in the 1st quarter. Fiera Capital Corp now owns 19,625 shares of the home improvement retailer’s stock valued at $7,192,000 after purchasing an additional 3,442 shares during the period. Independence Financial Advisors LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at $590,000. Finally, Orca Wealth Management LLC raised its stake in shares of Home Depot by 2.4% during the 1st quarter. Orca Wealth Management LLC now owns 2,725 shares of the home improvement retailer’s stock worth $999,000 after purchasing an additional 65 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on HD shares. Mizuho increased their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Bank of America dropped their target price on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. DA Davidson set a $430.00 price target on shares of Home Depot in a research note on Wednesday, November 19th. Telsey Advisory Group lowered their price target on shares of Home Depot from $455.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group dropped their price objective on Home Depot from $444.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Twenty-two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.60.

Home Depot Stock Performance

Shares of HD stock opened at $356.14 on Thursday. The stock has a market capitalization of $354.49 billion, a P/E ratio of 24.19, a PEG ratio of 3.59 and a beta of 1.00. 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 firm’s 50 day moving average is $381.00 and its 200 day moving average is $380.84. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $436.36.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same quarter in the prior year, the firm posted $3.78 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.6%. Home Depot’s dividend payout ratio is 62.71%.

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.