The Home Depot, Inc. $HD is Manitou Investment Management Ltd.’s 10th Largest Position

Manitou Investment Management Ltd. decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,873 shares of the home improvement retailer’s stock after selling 1,175 shares during the period. Home Depot accounts for 4.7% of Manitou Investment Management Ltd.’s holdings, making the stock its 10th biggest position. Manitou Investment Management Ltd.’s holdings in Home Depot were worth $24,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. R. W. Roge & Company Inc. lifted its position in Home Depot by 3.2% during the second quarter. R. W. Roge & Company Inc. now owns 1,875 shares of the home improvement retailer’s stock valued at $687,000 after acquiring an additional 58 shares during the last quarter. Apollon Wealth Management LLC lifted its position in Home Depot by 4.6% during the second quarter. Apollon Wealth Management LLC now owns 84,864 shares of the home improvement retailer’s stock valued at $31,114,000 after acquiring an additional 3,752 shares during the last quarter. Hemington Wealth Management lifted its position in Home Depot by 2.9% during the second quarter. Hemington Wealth Management now owns 2,555 shares of the home improvement retailer’s stock valued at $936,000 after acquiring an additional 72 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Home Depot by 5.8% during the second quarter. Fifth Third Wealth Advisors LLC now owns 41,978 shares of the home improvement retailer’s stock valued at $15,391,000 after acquiring an additional 2,290 shares during the last quarter. Finally, One Degree Advisors Inc lifted its position in Home Depot by 27.0% during the second quarter. One Degree Advisors Inc now owns 1,237 shares of the home improvement retailer’s stock valued at $453,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Angie Brown sold 1,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% 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 three months. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Oppenheimer increased their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. Robert W. Baird upped their price target 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. JPMorgan Chase & Co. cut their price target on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company upped their price target on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.42.

Home Depot Trading Down 0.5%

Shares of Home Depot stock opened at $375.86 on Friday. The firm’s 50 day simple moving average is $403.54 and its two-hundred day simple moving average is $377.20. The firm has a market capitalization of $374.13 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 3.56 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 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.

Home Depot (NYSE:HD) last released 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). The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

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.