Shell Asset Management Co. Cuts Stock Position in The Home Depot, Inc. $HD

Shell Asset Management Co. decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 60.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,211 shares of the home improvement retailer’s stock after selling 28,964 shares during the quarter. Home Depot comprises about 0.8% of Shell Asset Management Co.’s investment portfolio, making the stock its 16th biggest holding. Shell Asset Management Co.’s holdings in Home Depot were worth $7,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Home Depot by 7.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer’s stock worth $952,000 after acquiring an additional 173 shares during the last quarter. Ignite Planners LLC lifted its position in Home Depot by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 6,526 shares of the home improvement retailer’s stock valued at $2,346,000 after acquiring an additional 47 shares in the last quarter. Croban purchased a new stake in Home Depot during the 2nd quarter valued at $416,000. Finally, Matrix Asset Advisors Inc. NY boosted its stake in Home Depot by 1.8% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 47,617 shares of the home improvement retailer’s stock valued at $17,458,000 after purchasing an additional 846 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Home Depot from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Morgan Stanley upped their target price on shares of Home Depot from $395.00 to $412.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Piper Sandler dropped their price target on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. UBS Group set a $430.00 price objective on shares of Home Depot in a report on Wednesday, December 10th. Finally, Guggenheim dropped their target price on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $407.23.

Home Depot Stock Performance

HD opened at $391.03 on Friday. The company’s 50 day moving average is $366.16 and its 200 day moving average is $379.99. 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 company has a market cap of $389.27 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 13.97 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 released its quarterly 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). 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 in the previous year, the business posted $3.78 earnings per share. The firm’s 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. On average, equities research analysts predict 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. Shareholders of record on Thursday, December 4th were issued 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 currently 62.71%.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the firm’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 transaction of $51,947.70. Following the sale, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,963 shares of company stock worth $1,748,845 over the last quarter. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

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.