Philip James Wealth Management LLC Reduces Stake in The Home Depot, Inc.

Philip James Wealth Management LLC has decreased its investment in The Home Depot, Inc. (NYSE:HD) by 10.5% during the fourth quarter, as indicated in their latest 13F filing with the Securities and Exchange Commission. After this adjustment, the firm holds 12,496 shares of the well-known home improvement retailer, having sold 1,464 shares during the quarter. At the close of the most recent reporting period, the value of Philip James Wealth Management's holdings in Home Depot was approximately $4,861,000.

Changes Among Other Institutional Investors

Several other institutional investors and hedge funds also made modifications to their investments in Home Depot. AMF Tjanstepension AB increased its stake by 10.8% in the third quarter, acquiring an additional 16,650 shares to reach a total of 171,005 shares, valued at about $69,340,000. Similarly, SYM FINANCIAL Corp raised its position by 17.8%, now holding 1,917 shares worth $777,000 after buying another 289 shares. Wealth Group Ltd. entered a new investment in Home Depot during the third quarter, valued at $217,000. Swedbank AB also increased its investment by 17.1%, owning 909,530 shares valued at approximately $368,542,000 following an additional purchase of 132,967 shares. Lastly, Net Worth Advisory Group acquired a new shareholding in the retailer valued at $647,000. Overall, institutional investors possess 70.86% of Home Depot's stock.

Insider Activity at Home Depot

In recent insider transactions, Executive Vice President Ann Marie Campbell sold 100 shares of Home Depot stock on November 20. The shares were sold at an average price of $402.58, totaling $40,258. Following this transaction, Campbell's direct ownership of the company decreased to 12,465 shares, with a current value of approximately $5,018,159.70. This sale was noted in a report filed with the SEC. Insiders in total own about 0.10% of the company's stock.

Home Depot Stock Performance Overview

The stock price for The Home Depot opened at $409.47. The company has a quick ratio of 0.31, a current ratio of 1.13, and a high debt-to-equity ratio of 8.65. The 50-day simple moving average is $404.49, while the two-hundred-day average is $396.14. Home Depot has a market capitalization of $406.75 billion, a price-to-earnings (P/E) ratio of 27.82, a price/earnings to growth (P/E/G) ratio of 4.22, and a beta of 1.05. The stock has experienced fluctuation, with a 52-week low of $323.77 and a high of $439.37.

Analysis and Ratings from Analysts

Analysts have provided various updates on Home Depot. Barclays raised their price target from $372 to $420 and assigned an "overweight" rating. JPMorgan Chase & Co. also increased their price target from $450 to $475. Similarly, TD Cowen raised their target from $440 to $460, rating it as a “buy.” Royal Bank of Canada adjusted their target from $363 to $413 with a “sector perform” rating. Lastly, Morgan Stanley elevated their target from $380 to $450 while maintaining an “overweight” rating on the stock. In summary, one analyst has rated the stock as a sell, seven have suggested holding, and twenty-one have given a buy rating, leading to a consensus rating of “Moderate Buy” with a target price around $433.44.

Overview of Home Depot

The Home Depot, Inc. operates as a leading home improvement retailer, not only in the United States but internationally. They offer a wide range of products including building materials, home improvement supplies, outdoor and garden products, and decorative items. Moreover, Home Depot provides installation services for various products like flooring, water heaters, and windows.

Additional Resources

This information serves to inform potential investors on the activities surrounding The Home Depot and the stock's market performance. Those interested in obtaining deeper insights or analysis may find engaging with market-related resources beneficial for their investment strategies.

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