Bar Harbor Wealth Management Reduces Position in The Home Depot, Inc. $HD

Bar Harbor Wealth Management lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 24,676 shares of the home improvement retailer’s stock after selling 365 shares during the quarter. Bar Harbor Wealth Management’s holdings in Home Depot were worth $9,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Client 1ST Advisory Group LLC boosted its position in Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock worth $688,000 after purchasing an additional 27 shares in the last quarter. Financial Insights Inc. boosted its position in Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC boosted its position in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC boosted its position in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock worth $228,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank boosted its position in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

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

Home Depot Stock Performance

NYSE HD opened at $383.84 on Thursday. The stock has a market cap of $382.07 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. The business has a fifty day moving average of $403.30 and a 200-day moving average of $376.89. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The business had revenue of $45.28 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

A number of analysts have commented on HD shares. Oppenheimer boosted their target price on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. decreased their target price on 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 boosted their price target on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Wells Fargo & Company boosted their price target on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $435.42.

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.