Alta Capital Management LLC Has $10.75 Million Stock Holdings in The Home Depot, Inc. $HD

Alta Capital Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 62.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,521 shares of the home improvement retailer’s stock after selling 43,510 shares during the period. Alta Capital Management LLC’s holdings in Home Depot were worth $10,746,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HD. Mainstay Capital Management LLC ADV bought a new position in shares of Home Depot in the 2nd quarter valued at about $263,000. WealthPlan Investment Management LLC bought a new stake in Home Depot during the second quarter worth about $1,149,000. Shell Asset Management Co. boosted its position in Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the last quarter. Boston Trust Walden Corp grew its stake in Home Depot by 0.3% in the second quarter. Boston Trust Walden Corp now owns 42,376 shares of the home improvement retailer’s stock valued at $15,537,000 after purchasing an additional 127 shares in the last quarter. Finally, West Family Investments Inc. grew its stake in Home Depot by 65.6% in the second quarter. West Family Investments Inc. now owns 3,630 shares of the home improvement retailer’s stock valued at $1,331,000 after purchasing an additional 1,438 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. BNP Paribas Exane raised their target price on shares of Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Stifel Nicolaus cut their price target on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research note on Monday, December 1st. 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. Wells Fargo & Company dropped their target price on shares of Home Depot from $400.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, Piper Sandler reduced their price target on Home Depot from $450.00 to $441.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $404.50.

Home Depot Trading Up 0.8%

HD stock opened at $380.97 on Wednesday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $426.75. The company has a market capitalization of $379.26 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 13.50 and a beta of 1.08. The company’s 50-day simple moving average is $361.11 and its 200 day simple moving average is $379.28. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05.

Home Depot (NYSE:HD) last announced its 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). The business had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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 yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s payout ratio is 62.71%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the transaction, the executive vice president directly owned 13,196 shares of the company’s stock, valued at $4,599,069.92. This trade represents a 17.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 145 shares of the business’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 completion of the transaction, the executive vice president owned 12,320 shares of the company’s stock, valued at $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,963 shares of company stock valued at $1,748,845 over the last quarter. 0.10% of the stock is owned by company insiders.

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.