Cibc World Market Inc. Increases Stock Position in The Home Depot, Inc. $HD

Cibc World Market Inc. grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 44.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 425,017 shares of the home improvement retailer’s stock after purchasing an additional 130,838 shares during the quarter. Cibc World Market Inc.’s holdings in Home Depot were worth $172,213,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caprock Group LLC acquired a new stake in shares of Home Depot in the 3rd quarter valued at about $17,926,000. Krilogy Financial LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $2,730,000. Center for Financial Planning Inc. grew its position in shares of Home Depot by 2.8% during the third quarter. Center for Financial Planning Inc. now owns 4,989 shares of the home improvement retailer’s stock worth $2,022,000 after acquiring an additional 134 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Home Depot by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 110,803 shares of the home improvement retailer’s stock valued at $44,896,000 after acquiring an additional 5,959 shares during the period. Finally, Stratos Wealth Advisors LLC raised its position in Home Depot by 4.1% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 5,251 shares of the home improvement retailer’s stock valued at $2,128,000 after purchasing an additional 205 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Home Depot news, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the transaction, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction that occurred 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 sale, the executive vice president owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,963 shares of company stock worth $1,748,845 in the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a research report on Monday, December 29th. Robert W. Baird dropped their price target on Home Depot from $450.00 to $415.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. JPMorgan Chase & Co. decreased their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Jefferies Financial Group reissued a “buy” rating and issued a $424.00 target price on shares of Home Depot in a report on Wednesday, December 10th. Finally, Argus decreased their price target on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.47.

Home Depot Stock Performance

Shares of HD stock opened at $389.19 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The stock has a 50 day simple moving average of $363.99 and a 200-day simple moving average of $379.73. The company has a market cap of $387.44 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 13.60 and a beta of 1.08. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). The business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

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.