Griffin Asset Management Inc. Lowers Holdings in The Home Depot, Inc. $HD

Griffin Asset Management Inc. decreased its position in The Home Depot, Inc. (NYSE:HD) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,228 shares of the home improvement retailer’s stock after selling 550 shares during the period. Home Depot accounts for about 1.7% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Griffin Asset Management Inc.’s holdings in Home Depot were worth $14,749,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Pegasus Asset Management Inc. lifted its holdings in shares of Home Depot by 5.4% in the 2nd quarter. Pegasus Asset Management Inc. now owns 5,937 shares of the home improvement retailer’s stock worth $2,177,000 after buying an additional 305 shares during the period. ONE Advisory Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $221,000. Welch Group LLC lifted its holdings in shares of Home Depot by 2.4% in the 2nd quarter. Welch Group LLC now owns 176,698 shares of the home improvement retailer’s stock worth $64,785,000 after buying an additional 4,129 shares during the period. Stephens Consulting LLC lifted its stake in Home Depot by 3.9% in the second quarter. Stephens Consulting LLC now owns 975 shares of the home improvement retailer’s stock worth $357,000 after acquiring an additional 37 shares during the period. Finally, Bill Few Associates Inc. lifted its stake in Home Depot by 0.7% in the second quarter. Bill Few Associates Inc. now owns 14,488 shares of the home improvement retailer’s stock worth $5,312,000 after acquiring an additional 105 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on HD shares. 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 note on Wednesday, August 13th. Mizuho upped their price target 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. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. DA Davidson restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

Home Depot Trading Up 1.0%

NYSE:HD opened at $379.36 on Tuesday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a 50 day moving average of $403.51 and a 200 day moving average of $377.45. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock has a market capitalization of $377.61 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 3.57 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior year, the company posted $4.60 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 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 declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 in the last 90 days. 0.10% of the stock is owned by insiders.

Home Depot Company 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.