Generate Investment Management Ltd Cuts Holdings in The Home Depot, Inc. $HD

Generate Investment Management Ltd reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,050 shares of the home improvement retailer’s stock after selling 5,276 shares during the quarter. Home Depot comprises 1.6% of Generate Investment Management Ltd’s investment portfolio, making the stock its 19th biggest holding. Generate Investment Management Ltd’s holdings in Home Depot were worth $31,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Home Depot during the first quarter worth about $33,507,000. AQR Capital Management LLC grew its position in Home Depot by 44.2% during the first quarter. AQR Capital Management LLC now owns 216,960 shares of the home improvement retailer’s stock worth $78,231,000 after buying an additional 66,502 shares during the period. Boothbay Fund Management LLC purchased a new position in Home Depot in the first quarter valued at about $9,165,000. Finally, Cinctive Capital Management LP lifted its position in shares of Home Depot by 238.5% during the 1st quarter. Cinctive Capital Management LP now owns 60,354 shares of the home improvement retailer’s stock valued at $22,119,000 after acquiring an additional 42,522 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research reports. DA Davidson lowered their price target on Home Depot from $430.00 to $407.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Argus lowered their target price on Home Depot from $450.00 to $425.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Daiwa Capital Markets lifted their price target on Home Depot from $348.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Gordon Haskett lowered their price objective on shares of Home Depot from $345.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, November 19th. Finally, Robert W. Baird dropped their target price on shares of Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $402.10.

Home Depot Stock Performance

Shares of HD opened at $344.06 on Friday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $426.75. The company’s 50 day simple moving average is $357.98 and its 200 day simple moving average is $377.49. The company has a market capitalization of $342.52 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 12.82 and a beta of 1.08. 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 released 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). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same period in the previous year, the firm 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, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders 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 2.7%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Insider Buying and Selling at Home Depot

In related 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 value of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the executive vice president directly owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This trade represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,963 shares of company stock worth $1,748,845 in the last 90 days. 0.10% of the stock is owned by company insiders.

Home Depot 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.