Bristlecone Advisors LLC Sells 1,530 Shares of The Home Depot, Inc. $HD

Bristlecone Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,509 shares of the home improvement retailer’s stock after selling 1,530 shares during the quarter. Bristlecone Advisors LLC’s holdings in Home Depot were worth $6,053,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in Home Depot in the 2nd quarter worth $28,000. Abound Financial LLC purchased a new stake in Home Depot in the 1st quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot in the 2nd quarter worth $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HD. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Wolfe Research began coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. Truist Financial upped their target price on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Morgan Stanley upped their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.35.

Insider Buying and Selling

In related news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 over the last three months. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Home Depot stock opened at $385.86 on Wednesday. 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 1-year low of $326.31 and a 1-year high of $439.37. The firm has a market capitalization of $384.08 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 3.66 and a beta of 1.00. The company’s 50-day moving average is $402.09 and its 200 day moving average is $380.13.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is 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.