Avalon Global Asset Management LLC Lowers Stake in The Home Depot, Inc. $HD

Avalon Global Asset Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 11.6% during the second quarter, HoldingsChannel reports. The fund owned 38,200 shares of the home improvement retailer’s stock after selling 5,000 shares during the quarter. Home Depot comprises about 1.7% of Avalon Global Asset Management LLC’s holdings, making the stock its 19th largest position. Avalon Global Asset Management LLC’s holdings in Home Depot were worth $14,006,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares during the last quarter. United Bank grew its position in shares of Home Depot by 14.9% in the 1st quarter. United Bank now owns 5,023 shares of the home improvement retailer’s stock worth $1,841,000 after buying an additional 653 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Home Depot during the 1st quarter worth approximately $449,000. White Lighthouse Investment Management Inc. raised its stake in shares of Home Depot by 17.0% during the 1st quarter. White Lighthouse Investment Management Inc. now owns 818 shares of the home improvement retailer’s stock worth $300,000 after acquiring an additional 119 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Home Depot during the first quarter valued at approximately $8,286,000. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on HD. TD Cowen cut their price target on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Zacks Research cut Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. Truist Financial set a $379.00 target price on Home Depot in a research note on Tuesday, November 18th. JPMorgan Chase & Co. reduced their target price on Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Finally, Weiss Ratings downgraded Home Depot from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 1st. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $403.50.

Home Depot Price Performance

Shares of NYSE:HD opened at $354.65 on Monday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $436.36. 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 $353.05 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 6.25 and a beta of 1.06. The company’s 50 day moving average is $373.06 and its 200 day moving average is $379.85.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

About Home Depot

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.