The Home Depot, Inc. $HD Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,777 shares of the home improvement retailer’s stock after selling 1,270 shares during the period. Home Depot makes up about 1.3% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 16th largest holding. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $14,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the second quarter valued at approximately $28,000. Abound Financial LLC purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its stake in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new stake in Home Depot in the 2nd quarter worth $40,000. Finally, Compass Financial Services Inc acquired a new position in Home Depot during the first quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $394.88 on Friday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock’s fifty day moving average is $402.63 and its two-hundred day moving average is $376.21. The firm has a market capitalization of $393.06 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Morgan Stanley raised their price target on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price on the stock. Finally, Mizuho lifted their price target on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.40.

Insider Buying and Selling at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was 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 in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot 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 sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

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.