California Public Employees Retirement System Sells 719,898 Shares of The Home Depot, Inc. $HD

California Public Employees Retirement System lowered its stake in The Home Depot, Inc. (NYSE:HD) by 25.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,146,896 shares of the home improvement retailer’s stock after selling 719,898 shares during the quarter. Home Depot comprises 0.5% of California Public Employees Retirement System’s portfolio, making the stock its 28th biggest holding. California Public Employees Retirement System owned 0.22% of Home Depot worth $787,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in Home Depot by 4.0% in the 2nd quarter. Cerity Partners LLC now owns 755,550 shares of the home improvement retailer’s stock worth $277,024,000 after acquiring an additional 29,233 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Home Depot by 43.2% in the second quarter. Federated Hermes Inc. now owns 127,885 shares of the home improvement retailer’s stock worth $46,888,000 after purchasing an additional 38,599 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Home Depot by 6.3% in the second quarter. Gamco Investors INC. ET AL now owns 41,160 shares of the home improvement retailer’s stock worth $15,091,000 after purchasing an additional 2,425 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in shares of Home Depot by 3.8% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,019 shares of the home improvement retailer’s stock valued at $1,474,000 after purchasing an additional 146 shares during the period. Finally, PGIM Custom Harvest LLC raised its position in shares of Home Depot by 1.7% during the 2nd quarter. PGIM Custom Harvest LLC now owns 2,944 shares of the home improvement retailer’s stock valued at $1,079,000 after purchasing an additional 49 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $354.65 on Friday. The firm has a fifty day simple moving average of $373.06 and a two-hundred day simple moving average of $379.79. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $436.36. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $353.05 billion, a P/E ratio of 24.17, a PEG ratio of 6.25 and a beta of 1.06.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (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 analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research note on Monday, December 1st. Telsey Advisory Group cut their target price on Home Depot from $455.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Citigroup decreased their target price on Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. The Goldman Sachs Group dropped their price target on Home Depot from $444.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $403.50.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.