M&G PLC Cuts Stock Position in The Home Depot, Inc. $HD

M&G PLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 35.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,098 shares of the home improvement retailer’s stock after selling 85,538 shares during the period. M&G PLC’s holdings in Home Depot were worth $58,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot in the second quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new position in Home Depot in the 2nd quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the 2nd quarter worth about $35,000. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 2,303 shares of Home Depot stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein boosted their price target on shares of Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating on the stock in a research note on Monday. Stifel Nicolaus increased their price target 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 lifted their price target on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a research report on Thursday, September 25th. Finally, Wells Fargo & Company lowered their price objective on Home Depot from $450.00 to $435.00 and set an “overweight” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $433.77.

Home Depot Price Performance

HD stock opened at $374.29 on Wednesday. The company has a market capitalization of $372.56 billion, a PE ratio of 25.43, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The business’s fifty day moving average price is $395.90 and its 200 day moving average price is $381.83. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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 business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’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 company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot’s dividend payout ratio is currently 62.50%.

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.