Retirement Systems of Alabama Sells 2,169 Shares of The Home Depot, Inc. $HD

Retirement Systems of Alabama reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 324,758 shares of the home improvement retailer’s stock after selling 2,169 shares during the quarter. Retirement Systems of Alabama’s holdings in Home Depot were worth $119,069,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HD. Legend Financial Advisors Inc. bought a new position in shares of Home Depot during the 2nd quarter valued at approximately $28,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC raised its holdings in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC purchased a new stake in Home Depot during the 2nd quarter valued at $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $377.50 on Thursday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The company has a market cap of $375.76 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 3.66 and a beta of 1.00. The business’s 50 day moving average price is $401.60 and its 200 day moving average price is $380.30.

Home Depot (NYSE:HD) last posted its 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. Home Depot’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. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. 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 payout ratio is 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot 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 of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were 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 $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,835 shares of company stock worth $19,623,432 over the last three months. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HD shares. Wells Fargo & Company increased their price target on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research note on Wednesday, October 8th. Wolfe Research began coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Finally, Stifel Nicolaus raised their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $434.35.

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.