Accelerate Investment Advisors LLC Purchases Shares of 924 The Home Depot, Inc. $HD

Key Points

• Accelerate Investment Advisors LLC has acquired a new stake in The Home Depot, purchasing 924 shares worth approximately $339,000 during the second quarter.
• Home Depot reported $4.68 earnings per share for the most recent quarter, slightly missing analysts' estimates, with revenue of $45.28 billion.
• The company declared a quarterly dividend of $2.30 per share, with an annualized rate of $9.20 and a dividend yield of 2.2%.

Accelerate Investment Advisors LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 924 shares of the home improvement retailer's stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV lifted its holdings in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Nuveen LLC purchased a new position in Home Depot during the first quarter worth about $2,076,592,000. Price T Rowe Associates Inc. MD raised its stake in Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Home Depot by 6.6% during the first 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. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Morgan Stanley boosted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Guggenheim restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Stock Performance

Shares of HD opened at $423.33 on Friday. 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 stock has a market capitalization of $421.38 billion, a P/E ratio of 28.76, a P/E/G ratio of 4.01 and a beta of 1.00. The company's fifty day moving average is $390.03 and its two-hundred day moving average is $372.34. 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 for the quarter, missing analysts' consensus estimates 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 analyst estimates of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend 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 62.50%.

Insider Transactions at Home Depot

In related news, 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 value of $1,551,900.09. Following the sale, the executive vice president directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated 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 in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,532 shares of company stock worth $18,648,987 in the last 90 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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