Independent Investors Inc. Has $2.31 Million Position in The Home Depot, Inc. $HD

Independent Investors Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 4.5% in the second quarter, HoldingsChannel.com reports. The firm owned 6,310 shares of the home improvement retailer’s stock after selling 300 shares during the quarter. Independent Investors Inc.’s holdings in Home Depot were worth $2,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock valued at $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Home Depot by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock valued at $3,279,867,000 after acquiring an additional 477,192 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Oppenheimer raised their price objective on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research note on Thursday, September 25th. Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Truist Financial raised their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Finally, Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $436.40.

Insiders Place Their Bets

In related news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the business’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 sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last ninety days. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 0.4%

Shares of NYSE HD opened at $405.25 on Wednesday. The company’s fifty day moving average is $401.39 and its 200-day moving average is $375.46. The stock has a market cap of $403.38 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is currently 62.50%.

About Home Depot

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.