Whittier Trust Co. Lowers Holdings in The Home Depot, Inc. $HD

Whittier Trust Co. decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,906 shares of the home improvement retailer’s stock after selling 769 shares during the quarter. Whittier Trust Co.’s holdings in Home Depot were worth $25,996,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HD. Brighton Jones LLC raised its stake in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Home Depot by 7.2% in the first quarter. GAMMA Investing LLC now owns 27,932 shares of the home improvement retailer’s stock worth $10,237,000 after purchasing an additional 1,880 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Home Depot by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 238,098 shares of the home improvement retailer’s stock worth $87,260,000 after purchasing an additional 4,319 shares during the last quarter. Ridgecrest Wealth Partners LLC raised its stake in shares of Home Depot by 21.2% in the first quarter. Ridgecrest Wealth Partners LLC now owns 1,712 shares of the home improvement retailer’s stock worth $628,000 after purchasing an additional 300 shares during the last quarter. Finally, Prairie Wealth Advisors Inc. raised its stake in shares of Home Depot by 1.8% in the first quarter. Prairie Wealth Advisors Inc. now owns 2,554 shares of the home improvement retailer’s stock worth $936,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Mizuho upped their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Wolfe Research assumed coverage on Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Morgan Stanley upped their price objective on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

Home Depot Stock Performance

NYSE:HD opened at $388.91 on Tuesday. The stock has a 50-day simple moving average of $403.72 and a two-hundred day simple moving average of $378.37. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. 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 firm has a market capitalization of $387.12 billion, a PE ratio of 26.42, a P/E/G ratio of 3.72 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the firm 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. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s dividend payout ratio is 62.50%.

Insider Transactions at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value 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 approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by corporate insiders.

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.