Commonwealth Equity Services LLC Cuts Stake in The Home Depot, Inc. $HD

Commonwealth Equity Services LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 637,798 shares of the home improvement retailer’s stock after selling 34,626 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Home Depot worth $258,429,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in Home Depot during the second quarter valued at approximately $28,000. Sagard Holdings Management Inc. bought a new stake in Home Depot during the 2nd quarter valued at $29,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Home Depot in the 2nd quarter valued at $32,000. Dougherty Wealth Advisers LLC bought a new position in shares of Home Depot in the 3rd quarter worth $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth $35,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Evercore ISI dropped their price objective on Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. DA Davidson lowered their price target on shares of Home Depot from $430.00 to $407.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Argus reduced their price objective on shares of Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. UBS Group set a $430.00 target price on shares of Home Depot in a research note on Wednesday, December 10th. Finally, Daiwa Capital Markets upped their price target on Home Depot from $348.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. Twenty-one equities research 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. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $402.10.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the sale, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. The trade was a 17.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,963 shares of company stock valued at $1,748,845. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

Shares of HD opened at $344.20 on Tuesday. 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 company’s fifty day moving average price is $356.34 and its 200-day moving average price is $377.84. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $426.75. The firm has a market capitalization of $342.65 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 12.88 and a beta of 1.08.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business’s revenue 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. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, December 4th. Home Depot’s dividend payout ratio is 62.71%.

Home Depot Profile

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.