Renasant Bank Cuts Stock Position in The Home Depot, Inc. $HD

Renasant Bank cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 42.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,891 shares of the home improvement retailer’s stock after selling 1,399 shares during the quarter. Renasant Bank’s holdings in Home Depot were worth $766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Sagard Holdings Management Inc. purchased a new stake in Home Depot during the 2nd quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA bought a new position in shares of Home Depot during the second quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the second quarter valued at $35,000. Dougherty Wealth Advisers LLC purchased a new position in Home Depot during the third quarter valued at $38,000. Finally, Marquette Asset Management LLC bought a new stake in Home Depot in the 3rd quarter valued at $38,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.7%

Shares of NYSE HD opened at $385.01 on Friday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $426.75. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The business’s 50 day moving average is $362.81 and its two-hundred day moving average is $379.50. The stock has a market capitalization of $383.28 billion, a P/E ratio of 26.24, a PEG ratio of 13.65 and a beta of 1.08.

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

Home Depot Dividend Announcement

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 payout ratio is 62.71%.

Insider Buying and Selling at Home Depot

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

Wall Street Analyst Weigh In

Several research analysts have commented on HD shares. Evercore dropped their price objective on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. KGI Securities downgraded 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. Oppenheimer dropped their price target on Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a research note on Friday, December 5th. Royal Bank Of Canada reduced their price objective on Home Depot from $376.00 to $366.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Home Depot in a report on Monday, December 29th. Twenty-one analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $404.47.

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.