The Home Depot, Inc. $HD Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in The Home Depot, Inc. by 19.5%, acquiring an additional 198,562 shares in the 1st quarter, bringing its total ownership to approximately $446.3 million.
• Several institutional investors made significant changes to their positions in Home Depot, including a 99,400.7% increase by Asset Planning Services Inc., which now holds nearly 19 million shares valued at over $6.9 billion.
• Home Depot announced a quarterly dividend of $2.30 per share, with a payout ratio currently at 62.5%, and a yield of 2.3% for shareholders.

Adage Capital Partners GP L.L.C. raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 19.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,217,756 shares of the home improvement retailer's stock after acquiring an additional 198,562 shares during the period. Home Depot makes up 0.8% of Adage Capital Partners GP L.L.C.'s portfolio, making the stock its 17th biggest position. Adage Capital Partners GP L.L.C. owned about 0.12% of Home Depot worth $446,295,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Invst LLC grew its position in Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares during the period. Financial Insights Inc. boosted its position in shares of Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after buying an additional 28 shares during the period. Wayfinding Financial LLC boosted its position in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after buying an additional 28 shares during the period. Pure Portfolios Holdings LLC boosted its position in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares during the period. Finally, First Interstate Bank boosted its position in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock worth $3,306,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction that occurred on 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 owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock valued at $18,648,987 over the last three months. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. Morgan Stanley upped their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. TD Securities downgraded Home Depot to a "buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus upped their target price on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. Finally, Royal Bank Of Canada decreased their target price on 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. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Stock Up 1.7%

Shares of NYSE:HD traded up $7.01 during 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 has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock's 50-day moving average price is $385.21 and its two-hundred day moving average price is $371.46. The company has a market capitalization of $416.77 billion, a PE ratio of 28.44, a PEG ratio of 3.90 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 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 business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter last year, the firm posted $4.60 EPS. The company's revenue 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. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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