1248 Management LLC Acquires Shares of 840 The Home Depot, Inc. $HD

Key Points

• 1248 Management LLC has acquired 840 shares of Home Depot, valued at approximately $308,000, as part of a broader trend where multiple large investors have increased their stakes in the company.
• Analysts have mixed views on Home Depot's stock, with a consensus price target set at $432.52 and ratings varying from "Strong Buy" to "Hold".
• Home Depot recently announced a quarterly dividend of $2.30 per share, which will be paid on September 18th, representing an annualized yield of 2.2%.

1248 Management LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 840 shares of the home improvement retailer's stock, valued at approximately $308,000.

A number of other large investors have also recently added to or reduced their stakes in HD. Brighton Jones LLC boosted its stake in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Home Depot by 4.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock valued at $4,747,000 after acquiring an additional 565 shares during the last quarter. Quadcap Wealth Management LLC boosted its stake in Home Depot by 7.4% during the 4th quarter. Quadcap Wealth Management LLC now owns 2,191 shares of the home improvement retailer's stock valued at $852,000 after acquiring an additional 151 shares during the last quarter. ProShare Advisors LLC boosted its stake in Home Depot by 29.3% during the 4th quarter. ProShare Advisors LLC now owns 294,223 shares of the home improvement retailer's stock valued at $114,450,000 after acquiring an additional 66,714 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth $20,616,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Mizuho increased their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Robert W. Baird increased their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Stock Up 2.5%

Home Depot stock opened at $423.37 on Friday. The company has a 50-day simple moving average of $388.99 and a 200-day simple moving average of $372.26. The firm has a market capitalization of $421.42 billion, a P/E ratio of 28.76, a P/E/G ratio of 3.92 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's dividend payout ratio is currently 62.50%.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock worth $18,648,987 over the last ninety days. Insiders own 0.10% of the company's stock.

Home Depot 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.

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