12,523 Shares in The Home Depot, Inc. $HD Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has acquired 12,523 shares of The Home Depot, Inc., valued at approximately $4.59 million, marking a new investment in the retailer.
• Insiders at Home Depot have recently sold significant amounts of stock, including CEO Edward P. Decker who sold 32,897 shares for over $13 million, representing a notable decrease in their ownership percentages.
• Wall Street analysts are optimistic about Home Depot's future, with several firms raising their target prices and affirming buy ratings, contributing to an average target price of $432.52.

SCS Capital Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,523 shares of the home improvement retailer's stock, valued at approximately $4,590,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after acquiring an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV grew its holdings in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares during the period. GAMMA Investing LLC raised its stake in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,532 shares of company stock worth $18,648,987. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Truist Financial increased their target price on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. DA Davidson reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Wells Fargo & Company increased their target price on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Finally, Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Price Performance

HD stock opened at $415.53 on Wednesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm has a market capitalization of $413.61 billion, a P/E ratio of 28.23, a P/E/G ratio of 3.98 and a beta of 1.00. The business's 50-day moving average is $387.12 and its two-hundred day moving average is $371.68. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

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

Home Depot Announces Dividend

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

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.