Acadian Asset Management LLC Raises Stock Position in The Home Depot, Inc. $HD

Key Points

• Acadian Asset Management LLC increased its position in The Home Depot by 61.1%, holding 187,366 shares worth approximately $68.66 million after acquiring an additional 71,073 shares.
• Analysts generally view Home Depot positively, with a consensus rating of "Moderate Buy" and an average target price of $432.52.
• Home Depot announced a quarterly dividend of $2.30 per share, effective September 18th, with a yield of 2.2% and a payout ratio of 62.5%.

Acadian Asset Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 61.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 187,366 shares of the home improvement retailer's stock after buying an additional 71,073 shares during the period. Acadian Asset Management LLC's holdings in Home Depot were worth $68,659,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HD. Brighton Jones LLC boosted its stake in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $2,549,000. Northeast Financial Consultants Inc boosted its stake in Home Depot by 0.9% in the 4th quarter. Northeast Financial Consultants Inc now owns 23,305 shares of the home improvement retailer's stock worth $9,065,000 after purchasing an additional 208 shares in the last quarter. Finally, NorthRock Partners LLC boosted its stake in Home Depot by 149.6% in the 4th quarter. NorthRock Partners LLC now owns 16,274 shares of the home improvement retailer's stock worth $6,330,000 after purchasing an additional 9,753 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the subject of several research reports. Stifel Nicolaus lifted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Jefferies Financial Group decreased their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, Truist Financial lifted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $432.52.

Home Depot Price Performance

NYSE:HD opened at $413.50 on Thursday. 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 cap of $411.59 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00. The company has a 50 day moving average price of $387.95 and a 200-day moving average price of $371.97. 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 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). The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $2.30 per share. 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 payout ratio is 62.50%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company's stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot 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 transaction, the chief financial officer directly owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,532 shares of company stock worth $18,648,987. 0.10% of the stock is currently owned by corporate insiders.

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.

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