Alight Capital Management LP Takes $5.50 Million Position in The Home Depot, Inc. $HD

Key Points

• Alight Capital Management LP has acquired 15,000 shares of The Home Depot, Inc. valued at approximately $5.5 million, making it the firm's 11th largest position.
• Home Depot recently reported a quarterly earnings per share of $4.68, slightly missing analysts' consensus estimates of $4.69, and had a revenue of $45.28 billion for the quarter.
• The company will pay a quarterly dividend of $2.30 on September 18th, resulting in an annualized dividend yield of 2.3%.

Alight Capital Management LP purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the home improvement retailer's stock, valued at approximately $5,497,000. Home Depot comprises about 2.5% of Alight Capital Management LP's investment portfolio, making the stock its 11th biggest holding.

Other hedge funds have also modified their holdings of the company. Alyeska Investment Group L.P. acquired a new position in Home Depot in the first quarter valued at approximately $33,507,000. 1 North Wealth Services LLC acquired a new position in Home Depot in the first quarter valued at approximately $131,000. Adage Capital Partners GP L.L.C. lifted its holdings in Home Depot by 19.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,217,756 shares of the home improvement retailer's stock valued at $446,295,000 after buying an additional 198,562 shares during the period. Paragon Private Wealth Management LLC lifted its holdings in Home Depot by 4.0% in the first quarter. Paragon Private Wealth Management LLC now owns 2,222 shares of the home improvement retailer's stock valued at $814,000 after buying an additional 85 shares during the period. Finally, Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. lifted its holdings in Home Depot by 1.8% in the first quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 3,628 shares of the home improvement retailer's stock valued at $1,330,000 after buying an additional 65 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Jefferies Financial Group cut their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Morgan Stanley increased their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Insiders Place Their Bets

In related news, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the firm'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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 in the last quarter. Company insiders own 0.10% of the company's stock.

Home Depot Stock Up 1.7%

Shares of HD stock traded up $7.01 during trading hours on Friday, hitting $418.70. 5,854,063 shares of the company were exchanged, compared to its average volume of 3,533,561. The business has a 50 day moving average of $385.21 and a two-hundred day moving average of $371.29. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market capitalization of $416.77 billion, a PE ratio of 28.44, a PEG ratio of 3.97 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) 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 company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the company earned $4.60 EPS. The firm's revenue was up 4.9% on a year-over-year basis. 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 Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Home Depot Company 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.