Carmel Capital Partners LLC Has $32.08 Million Position in The Home Depot, Inc. $HD

Carmel Capital Partners LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,180 shares of the home improvement retailer’s stock after selling 1,854 shares during the quarter. Home Depot comprises 13.5% of Carmel Capital Partners LLC’s holdings, making the stock its largest position. Carmel Capital Partners LLC’s holdings in Home Depot were worth $32,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Mainstay Capital Management LLC ADV bought a new stake in shares of Home Depot during the 2nd quarter valued at $263,000. WealthPlan Investment Management LLC bought a new position in shares of Home Depot in the second quarter worth $1,149,000. Tower View Wealth Management LLC raised its stake in Home Depot by 4.3% in the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares in the last quarter. Shell Asset Management Co. lifted its position in 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 purchasing an additional 15,002 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Home Depot by 0.3% during the second quarter. Boston Trust Walden Corp now owns 42,376 shares of the home improvement retailer’s stock worth $15,537,000 after purchasing an additional 127 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Oppenheimer dropped their target price on shares of Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a research report on Friday, December 5th. Piper Sandler decreased their price objective on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Robert W. Baird cut their target price on Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $362.00 target price on shares of Home Depot in a report on Monday, November 24th. Finally, Telsey Advisory Group lowered their price target on Home Depot from $430.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $404.50.

Home Depot Stock Down 1.0%

Shares of HD opened at $380.84 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $426.75. The stock has a market capitalization of $379.13 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 14.33 and a beta of 1.08. The stock has a fifty day moving average of $355.59 and a 200-day moving average of $378.34.

Home Depot (NYSE:HD) last issued 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). The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is 62.71%.

Insider Buying and Selling

In other news, EVP Angie Brown sold 1,946 shares of Home Depot 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 transaction, the executive vice president owned 3,941 shares in the company, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the sale, the executive vice president owned 12,320 shares of the company’s stock, valued at $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,963 shares of company stock worth $1,748,845 in the last ninety days. Company insiders own 0.10% of the company’s stock.

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.