1248 Management LLC Buys New Stake in The Home Depot, Inc. $HD

Key Points

• 1248 Management LLC has invested $238,000 in The Home Depot, purchasing 650 shares in the first quarter, indicating increased interest from institutional investors as they hold 70.86% of the stock.
• Analysts have raised their price targets for Home Depot, with Robert W. Baird and Mizuho setting new targets of $450.00, reflecting a positive outlook on the stock's performance.
• The company recently reported earnings of $4.68 per share, missing estimates slightly, but its revenue for the quarter increased by 4.9% compared to the previous year.

1248 Management LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 650 shares of the home improvement retailer's stock, valued at approximately $238,000.

Other hedge funds also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in Home Depot during the 1st quarter valued at about $31,000. Quarry LP grew its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Quest 10 Wealth Builders Inc. grew its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in Home Depot in the 4th quarter valued at about $45,000. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company's stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,532 shares of company stock worth $18,648,987. Insiders own 0.10% of the company's stock.

Home Depot Stock Up 1.7%

Shares of HD traded up $7.01 during mid-day trading on Friday, hitting $418.70. The company's stock had a trading volume of 5,854,063 shares, compared to its average volume of 3,533,561. The company's 50-day moving average is $385.21 and its 200-day moving average is $371.46. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The firm has a market capitalization of $416.77 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 3.90 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several research firms have issued reports on HD. Royal Bank Of Canada lowered their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $432.52.

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.