Waverly Advisors LLC Cuts Position in The Home Depot, Inc. $HD

Waverly Advisors LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 144,880 shares of the home improvement retailer’s stock after selling 11,197 shares during the quarter. Waverly Advisors LLC’s holdings in Home Depot were worth $51,096,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HD. California State Teachers Retirement System raised its stake in shares of Home Depot by 34,873.9% in the 2nd quarter. California State Teachers Retirement System now owns 525,674,125 shares of the home improvement retailer’s stock valued at $185,394,750,000 after acquiring an additional 524,171,077 shares during the period. BlackRock Inc. acquired a new position in shares of Home Depot during the 2nd quarter valued at $28,771,247,000. State Street Corp boosted its position in Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock worth $16,147,010,000 after purchasing an additional 825,164 shares during the period. Geode Capital Management LLC boosted its position in Home Depot by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer’s stock worth $8,151,344,000 after purchasing an additional 343,153 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Home Depot during the 2nd quarter worth $5,780,468,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Teresa Roseborough sold 2,455 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $328.77, for a total transaction of $807,130.35. Following the sale, the executive vice president directly owned 14,061 shares of the company’s stock, valued at approximately $4,622,834.97. This represents a 14.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowe sold 710 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the transaction, the executive vice president owned 6,838 shares in the company, valued at $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 9,154 shares of company stock worth $3,132,798. 0.08% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $313.58 on Wednesday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The firm’s 50-day simple moving average is $337.98 and its 200-day simple moving average is $335.09. The firm has a market cap of $312.86 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 3.53 and a beta of 0.95.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The firm had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. During the same period in the previous year, the company earned $4.68 earnings per share. Home Depot’s quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, September 3rd. Home Depot’s payout ratio is 65.22%.

Wall Street Analyst Weigh In

Several research firms have commented on HD. Wall Street Zen raised Home Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley decreased their target price on Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $354.00 target price on shares of Home Depot in a research note on Wednesday, August 19th. KeyCorp reiterated a “sector weight” rating on shares of Home Depot in a research note on Wednesday, August 19th. Finally, Piper Sandler dropped their target price on Home Depot from $422.00 to $421.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.54.

About Home Depot

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.