CIBC Asset Management Inc Sells 13,251 Shares of The Home Depot, Inc. $HD

CIBC Asset Management Inc decreased its position in The Home Depot, Inc. (NYSE:HD) by 7.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 173,321 shares of the home improvement retailer’s stock after selling 13,251 shares during the quarter. CIBC Asset Management Inc’s holdings in Home Depot were worth $63,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Home Depot in the second quarter worth approximately $4,885,603,000. Laurel Wealth Advisors LLC raised its position in Home Depot by 36,207.5% in the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after acquiring an additional 10,049,029 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of Home Depot by 16,746.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after acquiring an additional 4,510,944 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after acquiring an additional 1,494,615 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Home Depot by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock worth $3,391,240,000 after purchasing an additional 1,494,261 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.8%

Shares of NYSE HD opened at $351.43 on Thursday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $428.00. The firm has a 50-day simple moving average of $369.79 and a two-hundred day simple moving average of $379.41. The company has a market cap of $349.86 billion, a P/E ratio of 23.96, a PEG ratio of 6.09 and a beta of 1.06. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business 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%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s payout ratio is 62.71%.

Analyst Ratings Changes

Several equities analysts recently weighed in on HD shares. Citigroup lowered their target price on Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Guggenheim lowered their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Evercore ISI reduced their target price 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. HSBC decreased their target price on shares of Home Depot from $445.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday, November 19th. Finally, Oppenheimer dropped their target price on shares of Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a report on Friday, December 5th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $401.47.

Insider Buying and Selling

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

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.