Meyer Handelman Co. Sells 5,425 Shares of The Home Depot, Inc. $HD

Meyer Handelman Co. lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,286 shares of the home improvement retailer’s stock after selling 5,425 shares during the quarter. Home Depot makes up 1.5% of Meyer Handelman Co.’s portfolio, making the stock its 16th biggest holding. Meyer Handelman Co.’s holdings in Home Depot were worth $47,928,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Home Depot during the 2nd quarter valued at approximately $4,885,603,000. Laurel Wealth Advisors LLC boosted its position in shares of Home Depot by 36,207.5% during the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after acquiring an additional 10,049,029 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Home Depot by 16,746.9% during the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after acquiring an additional 4,510,944 shares during the last quarter. Vanguard Group Inc. grew its stake in Home Depot by 1.5% during the second quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after acquiring an additional 1,494,615 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Home Depot in the 2nd quarter valued at $418,486,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. This represents a 1.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Angie Brown sold 1,946 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This trade represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

NYSE:HD opened at $349.70 on Monday. The firm has a market capitalization of $348.13 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 13.03 and a beta of 1.06. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The business has a 50 day simple moving average of $361.42 and a 200-day simple moving average of $378.13. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $426.75.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is 62.71%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research cut shares of Home Depot from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 27th. TD Cowen decreased their target price on Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. DZ Bank restated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. JPMorgan Chase & Co. decreased their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a report on Monday, December 22nd. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $402.10.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.