Exchange Capital Management Inc. Cuts Position in The Home Depot, Inc. $HD

Exchange Capital Management Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,948 shares of the home improvement retailer’s stock after selling 243 shares during the period. Exchange Capital Management Inc.’s holdings in Home Depot were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Client 1ST Advisory Group LLC boosted its position in Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock worth $688,000 after purchasing an additional 27 shares in the last quarter. Financial Insights Inc. raised its stake in shares of Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after buying an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its position in shares of Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after buying an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC increased its holdings in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after acquiring an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its position in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after acquiring an additional 28 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.6%

HD opened at $394.56 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The business has a 50-day moving average of $402.24 and a two-hundred day moving average of $375.89. The stock has a market capitalization of $392.74 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). The company had revenue of $45.28 billion for 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company 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. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is currently 62.50%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HD. Wells Fargo & Company increased their price target on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. DA Davidson reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Finally, Wolfe Research assumed coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $436.40.

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.