Demars Financial Group LLC Sells 675,902 Shares of The Home Depot, Inc. $HD

Demars Financial Group LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 99.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,953 shares of the home improvement retailer’s stock after selling 675,902 shares during the period. Demars Financial Group LLC’s holdings in Home Depot were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legend Financial Advisors Inc. bought a new position in shares of Home Depot in the second quarter worth approximately $28,000. Abound Financial LLC bought a new position in shares of Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Home Depot in the second quarter worth approximately $40,000. Finally, GFG Capital LLC bought a new position in shares of Home Depot in the second quarter worth approximately $40,000. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HD shares. Mizuho upped their price objective on shares of Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Oppenheimer upped their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. Finally, Wells Fargo & Company increased their price target on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $435.42.

Home Depot Stock Up 1.1%

Shares of NYSE HD opened at $391.79 on Monday. The stock has a market capitalization of $389.98 billion, a P/E ratio of 26.62, a PEG ratio of 3.72 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm’s 50 day simple moving average is $403.70 and its two-hundred day simple moving average is $378.12.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. 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.