Root Financial Partners LLC Decreases Stake in The Home Depot, Inc. $HD

Root Financial Partners LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 17.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 12,133 shares of the home improvement retailer’s stock after selling 2,645 shares during the period. Root Financial Partners LLC’s holdings in Home Depot were worth $4,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Mainstay Capital Management LLC ADV purchased a new stake in Home Depot during the second quarter worth approximately $263,000. WealthPlan Investment Management LLC purchased a new position in Home Depot in the second quarter valued at approximately $1,149,000. Tower View Wealth Management LLC raised its holdings in Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares in the last quarter. Shell Asset Management Co. raised its holdings in Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after purchasing an additional 15,002 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Home Depot by 0.3% during the 2nd quarter. Boston Trust Walden Corp now owns 42,376 shares of the home improvement retailer’s stock worth $15,537,000 after buying an additional 127 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD stock opened at $380.34 on Tuesday. The stock’s 50-day moving average price is $355.04 and its 200 day moving average price is $378.25. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $378.63 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 14.16 and a beta of 1.08. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $426.75.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. During the same period in the previous year, the business posted $3.78 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio is presently 62.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Argus decreased their price objective on shares of Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. KGI Securities cut Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 target price on the stock. in a research report on Wednesday, November 19th. HSBC reduced their target price on Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $413.00 price target on shares of Home Depot in a research note on Wednesday, December 10th. Twenty-two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $403.17.

Insider Transactions at Home Depot

In related news, EVP Angie Brown sold 1,946 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president directly owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This represents a 33.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the sale, the executive vice president owned 13,196 shares of the company’s stock, valued at approximately $4,599,069.92. The trade was a 17.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 4,963 shares of company stock worth $1,748,845. Company insiders own 0.10% of the company’s stock.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.