Manitou Investment Management Ltd. Trims Stake in The Home Depot, Inc. $HD

Manitou Investment Management Ltd. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 44.2% during the third quarter, Holdings Channel reports. The fund owned 37,869 shares of the home improvement retailer’s stock after selling 30,004 shares during the quarter. Home Depot comprises 2.7% of Manitou Investment Management Ltd.’s portfolio, making the stock its 12th biggest holding. Manitou Investment Management Ltd.’s holdings in Home Depot were worth $15,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in Home Depot in the 2nd quarter valued at $28,000. Sagard Holdings Management Inc. purchased a new position in shares of Home Depot during the 2nd quarter worth about $29,000. LFA Lugano Financial Advisors SA purchased a new stake in Home Depot in the second quarter valued at approximately $32,000. Dougherty Wealth Advisers LLC purchased a new stake in Home Depot in the third quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in Home Depot during the second quarter worth approximately $35,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total transaction of $51,947.70. Following the transaction, the executive vice president directly owned 12,320 shares in the company, valued at $4,413,763.20. This represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Angie Brown sold 1,946 shares of the business’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 completion of the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $347.38 on Tuesday. The firm has a 50-day moving average of $360.59 and a two-hundred day moving average of $378.02. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The stock has a market cap of $345.82 billion, a P/E ratio of 23.68, a PEG ratio of 13.03 and a beta of 1.06. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $426.75.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $41.06 billion. During the same quarter last year, the firm posted $3.78 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Thursday, December 4th. Home Depot’s payout ratio is 62.71%.

Analyst Ratings Changes

HD has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Home Depot from $400.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, December 10th. HSBC dropped their price target on Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a research note on Wednesday, November 19th. Piper Sandler reduced their price objective 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. Stifel Nicolaus cut their price target on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a report on Monday, December 1st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $413.00 price target on shares of Home Depot in a research report on Wednesday, December 10th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $402.10.

Home Depot Company 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.