The Home Depot, Inc. $HD Stock: Parallel Advisors LLC Trims Stake

Parallel Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,450 shares of the home improvement retailer’s stock after selling 2,551 shares during the quarter. Parallel Advisors LLC’s holdings in Home Depot were worth $7,525,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Home Depot during the second quarter valued at about $28,771,247,000. Bank of America Corp DE bought a new stake in shares of Home Depot in the second quarter worth about $5,780,468,000. Bank of New York Mellon Corp purchased a new stake in shares of Home Depot in the second quarter worth about $2,777,396,000. Corient Private Wealth LP purchased a new stake in shares of Home Depot in the second quarter worth about $390,913,000. Finally, Legal & General Group Plc purchased a new stake in shares of Home Depot in the second quarter worth about $1,953,883,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $343.48 on Friday. The company’s 50-day moving average price is $309.42 and its 200-day moving average price is $334.08. The Home Depot, Inc. has a twelve month low of $277.15 and a twelve month high of $397.63. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The company has a market cap of $342.69 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.44 and a beta of 0.93.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm had revenue of $47.86 billion for the quarter, compared to analysts’ expectations of $47.24 billion. During the same period in the prior year, the company earned $4.68 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot’s payout ratio is presently 65.22%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HD. Sanford C. Bernstein dropped their price target on Home Depot from $354.00 to $344.00 and set a “market perform” rating for the company in a research note on Wednesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Home Depot in a research note on Friday, October 2nd. DA Davidson reaffirmed a “buy” rating and set a $377.00 price objective on shares of Home Depot in a report on Wednesday, August 19th. Royal Bank Of Canada decreased their price objective on Home Depot from $343.00 to $342.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 19th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $398.00 target price on shares of Home Depot in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $375.31.

Insider Buying and Selling

In other Home Depot news, CAO Kimberly Scardino sold 675 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $305.95, for a total transaction of $206,516.25. Following the sale, the chief accounting officer directly owned 8,189 shares in the company, valued at $2,505,424.55. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa Roseborough sold 2,455 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $328.77, for a total value of $807,130.35. Following the completion of the sale, the executive vice president directly owned 14,061 shares of the company’s stock, valued at $4,622,834.97. The trade was a 14.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,829 shares of company stock valued at $3,339,314. 0.08% of the stock is currently owned by company insiders.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.