Mengis Capital Management Inc. Has $2.33 Million Position in The Home Depot, Inc. $HD

Mengis Capital Management Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 37.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,367 shares of the home improvement retailer’s stock after selling 3,780 shares during the period. Mengis Capital Management Inc.’s holdings in Home Depot were worth $2,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Tower View Wealth Management LLC boosted its position in Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after buying an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in Home Depot during the 1st quarter worth approximately $3,851,000. Shell Asset Management Co. boosted its position in Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after buying an additional 15,002 shares during the period. Financial Gravity Asset Management Inc. acquired a new stake in Home Depot during the 1st quarter worth approximately $406,000. Finally, Arbor Capital Management Inc. ADV boosted its position in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock worth $1,757,000 after buying an additional 221 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 1.6%

Home Depot stock opened at $377.66 on Friday. 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 Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The firm’s fifty day moving average is $403.50 and its 200 day moving average is $376.99. The company has a market capitalization of $375.92 billion, a PE ratio of 25.66, a PEG ratio of 3.64 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the firm earned $4.60 EPS. The firm’s revenue 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 predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last ninety days. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on HD. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research report on Wednesday. Oppenheimer lifted their target price 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. DA Davidson reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Robert W. Baird upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $435.42.

About Home Depot

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.