Baillie Gifford & Co. Reduces Stock Holdings in The Home Depot, Inc. $HD

Baillie Gifford & Co. lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 129,266 shares of the home improvement retailer’s stock after selling 3,038 shares during the period. Baillie Gifford & Co.’s holdings in Home Depot were worth $52,377,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Mainstay Capital Management LLC ADV purchased a new position in Home Depot during the second quarter worth $263,000. WealthPlan Investment Management LLC acquired a new stake in shares of Home Depot during the second quarter valued at $1,149,000. Tower View Wealth Management LLC increased its position in Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares in the last quarter. Shell Asset Management Co. raised its stake in Home Depot by 45.2% in the 2nd 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. Finally, Boston Trust Walden Corp raised its stake in Home Depot by 0.3% in the 2nd 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 during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE:HD opened at $383.63 on Friday. The company has a market cap of $381.91 billion, a P/E ratio of 26.15, a P/E/G ratio of 14.30 and a beta of 1.08. The firm’s 50 day moving average is $356.03 and its two-hundred day moving average is $378.53. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $426.75. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $41.06 billion. During the same quarter in the previous year, the company earned $3.78 earnings per share. The company’s quarterly 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. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s payout ratio is presently 62.71%.

Insider Buying and Selling

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 transaction, the executive vice president owned 12,320 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of Home Depot stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the transaction, the executive vice president directly owned 13,196 shares in the company, valued at approximately $4,599,069.92. This trade represents a 17.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,963 shares of company stock valued at $1,748,845. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Stifel Nicolaus reduced their price objective on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a research note on Monday, December 1st. Telsey Advisory Group decreased their target price on shares of Home Depot from $430.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Daiwa Capital Markets boosted their price target on Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Finally, Bank of America decreased their price objective on Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Twenty-one analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $404.50.

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.