Arthur M. Cohen & Associates LLC Reduces Stake in The Home Depot, Inc. $HD

Arthur M. Cohen & Associates LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,641 shares of the home improvement retailer’s stock after selling 455 shares during the period. Home Depot comprises about 1.0% of Arthur M. Cohen & Associates LLC’s investment portfolio, making the stock its 18th biggest position. Arthur M. Cohen & Associates LLC’s holdings in Home Depot were worth $5,735,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of HD. Abound Financial LLC bought a new stake in Home Depot during the first quarter valued at about $31,000. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% during the first 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. bought a new stake in Home Depot during the second quarter valued at about $40,000. Compass Financial Services Inc bought a new stake in Home Depot during the first quarter valued at about $41,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot during the second quarter valued at about $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. JPMorgan Chase & Co. reduced their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Morgan Stanley lifted their target price on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Truist Financial lifted their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $435.00.

Home Depot Stock Down 0.4%

Shares of NYSE HD opened at $415.77 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 firm has a market capitalization of $413.85 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 3.94 and a beta of 1.00. The stock has a 50 day moving average price of $394.94 and a 200 day moving average price of $373.39. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly 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 firm 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 for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 yield of 2.2%. Home Depot’s payout ratio is 62.50%.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were 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 owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the transaction, the executive vice president directly owned 3,837 shares of the company’s stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Home Depot 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.