Pinnacle Associates Ltd. Has $57.27 Million Stake in The Home Depot, Inc. $HD

Pinnacle Associates Ltd. boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,212 shares of the home improvement retailer’s stock after acquiring an additional 676 shares during the period. Home Depot accounts for 0.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Pinnacle Associates Ltd.’s holdings in Home Depot were worth $57,273,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Client 1ST Advisory Group LLC lifted its position in Home Depot by 1.5% during the 1st quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock worth $688,000 after acquiring an additional 27 shares during the last quarter. Wayfinding Financial LLC increased its holdings in shares of Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after purchasing an additional 28 shares during the period. Pure Portfolios Holdings LLC increased its holdings in shares of Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock worth $228,000 after purchasing an additional 28 shares during the period. First Interstate Bank increased its holdings in shares of Home Depot by 0.3% during the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after purchasing an additional 28 shares during the period. Finally, Firethorn Wealth Partners LLC increased its holdings in shares of Home Depot by 1.5% during the 2nd quarter. Firethorn Wealth Partners LLC now owns 1,875 shares of the home improvement retailer’s stock worth $687,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,835 shares of company stock valued at $19,623,432 over the last three months. Insiders own 0.10% of the company’s stock.

Home Depot Stock Up 0.4%

Shares of NYSE HD opened at $379.39 on Friday. The firm’s 50-day simple moving average is $401.23 and its 200 day simple moving average is $380.29. The company has a market cap of $377.64 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter last year, the company earned $4.60 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HD shares. Wolfe Research started coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, Mizuho boosted their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $434.35.

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.