RNC Capital Management LLC Has $41.92 Million Position in The Home Depot, Inc. $HD

RNC Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 114,394 shares of the home improvement retailer’s stock after selling 985 shares during the quarter. Home Depot comprises approximately 2.1% of RNC Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. RNC Capital Management LLC’s holdings in Home Depot were worth $41,924,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HD. Financial Gravity Asset Management Inc. bought a new stake in Home Depot during the first quarter valued at $406,000. Wealth Management Partners LLC boosted its position in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after acquiring an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its position in Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after acquiring an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC boosted its position in Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after acquiring an additional 239 shares during the last quarter. Finally, Tabor Asset Management LP bought a new stake in Home Depot during the first quarter valued at $5,886,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. TD Securities cut shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Morgan Stanley raised their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $432.52.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 32,897 shares of the 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 completion of the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock worth $18,648,987 in the last three months. 0.10% of the stock is owned by corporate insiders.

Home Depot Trading Up 1.7%

HD opened at $418.70 on Monday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $416.77 billion, a PE ratio of 28.44, a P/E/G ratio of 3.97 and a beta of 1.00. The company’s 50-day moving average is $385.21 and its 200 day moving average is $371.13.

Home Depot (NYSE:HD) last released its quarterly 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 analysts’ expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

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.