Sawgrass Asset Management LLC Trims Stake in The Home Depot, Inc. $HD

Sawgrass Asset Management LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 87.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,239 shares of the home improvement retailer’s stock after selling 30,839 shares during the period. Sawgrass Asset Management LLC’s holdings in Home Depot were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Centerpoint Advisory Group grew its stake in shares of Home Depot by 0.8% during the 2nd quarter. Centerpoint Advisory Group now owns 3,163 shares of the home improvement retailer’s stock valued at $1,160,000 after acquiring an additional 26 shares during the period. Disciplined Investors L.L.C. boosted its position in shares of Home Depot by 2.3% in the second quarter. Disciplined Investors L.L.C. now owns 1,178 shares of the home improvement retailer’s stock worth $432,000 after purchasing an additional 26 shares during the period. Brio Consultants LLC increased its stake in shares of Home Depot by 4.7% in the second quarter. Brio Consultants LLC now owns 574 shares of the home improvement retailer’s stock worth $210,000 after purchasing an additional 26 shares in the last quarter. Emprise Bank increased its stake in shares of Home Depot by 0.8% in the third quarter. Emprise Bank now owns 3,135 shares of the home improvement retailer’s stock worth $1,270,000 after purchasing an additional 26 shares in the last quarter. Finally, Stegent Equity Advisors Inc. raised its position in shares of Home Depot by 2.7% during the 3rd quarter. Stegent Equity Advisors Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after purchasing an additional 26 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock opened at $383.63 on Friday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $426.75. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The firm’s fifty day moving average is $356.03 and its 200 day moving average is $378.53. The company has a market cap of $381.91 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 14.30 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. During the same quarter last year, the firm earned $3.78 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s payout ratio is presently 62.71%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HD shares. Truist Financial set a $405.00 price target on Home Depot in a research note on Friday, January 16th. Zacks Research downgraded Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. BNP Paribas Exane upped their price objective on Home Depot from $353.00 to $355.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Guggenheim cut their target price on Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $424.00 price target on shares of Home Depot in a report on Wednesday, December 10th. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $404.50.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $358.26, for a total value of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares in the company, valued at approximately $4,413,763.20. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the sale, the executive vice president owned 3,941 shares in the company, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,963 shares of company stock valued at $1,748,845 over the last three months. 0.10% of the stock is owned by company insiders.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.