Denali Advisors LLC Cuts Stake in The Home Depot, Inc. $HD

Denali Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,457 shares of the home improvement retailer’s stock after selling 260 shares during the quarter. Home Depot comprises about 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Denali Advisors LLC’s holdings in Home Depot were worth $8,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Phillips Financial Management LLC increased its position in shares of Home Depot by 13.5% during the second quarter. Phillips Financial Management LLC now owns 1,437 shares of the home improvement retailer’s stock worth $527,000 after acquiring an additional 171 shares during the last quarter. OMC Financial Services LTD increased its position in shares of Home Depot by 4.9% during the second quarter. OMC Financial Services LTD now owns 6,415 shares of the home improvement retailer’s stock worth $2,352,000 after acquiring an additional 298 shares during the last quarter. Jacobsen Capital Management increased its position in shares of Home Depot by 15.2% during the second quarter. Jacobsen Capital Management now owns 2,706 shares of the home improvement retailer’s stock worth $992,000 after acquiring an additional 357 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Home Depot during the second quarter worth about $494,000. Finally, Retirement Planning Group LLC increased its position in shares of Home Depot by 9.5% during the second quarter. Retirement Planning Group LLC now owns 5,089 shares of the home improvement retailer’s stock worth $1,866,000 after acquiring an additional 440 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 in the last three months. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $390.99 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The business has a 50 day moving average of $403.62 and a two-hundred day moving average of $378.45. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market cap of $389.19 billion, a P/E ratio of 26.56, a PEG ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 net margin of 8.86% and a return on equity of 193.99%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued 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 2.4%. Home Depot’s dividend payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HD shares. Mizuho lifted their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Morgan Stanley lifted their price target on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. DA Davidson reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $435.42.

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.