The Home Depot, Inc. $HD Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 13.0% during the third quarter, HoldingsChannel.com reports. The fund owned 257,505 shares of the home improvement retailer’s stock after selling 38,313 shares during the quarter. AGF Management Ltd.’s holdings in Home Depot were worth $104,338,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Home Depot by 1.5% in the second quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock valued at $35,922,952,000 after acquiring an additional 1,494,615 shares in the last quarter. State Street Corp boosted its stake in shares of Home Depot by 0.7% in the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after purchasing an additional 300,352 shares during the period. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.4% in the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after purchasing an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Home Depot by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after purchasing an additional 153,582 shares in the last quarter. Finally, Norges Bank purchased a new stake in Home Depot during the 2nd quarter worth $4,885,603,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $374.33 on Monday. The business’s fifty day moving average price is $359.69 and its 200 day moving average price is $378.99. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75. The stock has a market capitalization of $372.65 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 13.96 and a beta of 1.08. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29.

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

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot’s dividend payout ratio is 62.71%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HD shares. Bank of America decreased their price objective on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Piper Sandler cut their price target on Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Evercore ISI reduced their price target on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Jefferies Financial Group restated a “buy” rating and set a $424.00 price objective on shares of Home Depot in a research note on Wednesday, December 10th. Finally, Gordon Haskett cut their target price on Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, November 19th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $404.50.

Insiders Place Their Bets

In other Home Depot news, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This trade represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 145 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. This trade represents a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,963 shares of company stock valued at $1,748,845 over the last quarter. Insiders own 0.10% of the company’s stock.

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.