Advisors Asset Management Inc. Has $33.22 Million Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Advisors Asset Management Inc. increased its stake in The Home Depot, Inc. by 1.9%, acquiring 1,691 shares to total 90,649 shares, valued at approximately $33.22 million.
• Home Depot reported Q2 earnings of $4.68 per share, slightly missing analysts' expectations, with revenues of $45.28 billion, a year-over-year increase of 4.9%.
• The company announced a quarterly dividend of $2.30, translating to an annual yield of 2.3%, with a payout ratio of 62.5%.

Advisors Asset Management Inc. grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,649 shares of the home improvement retailer's stock after buying an additional 1,691 shares during the quarter. Home Depot accounts for about 0.6% of Advisors Asset Management Inc.'s portfolio, making the stock its 16th largest holding. Advisors Asset Management Inc.'s holdings in Home Depot were worth $33,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Invst LLC raised its position in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after buying an additional 28 shares in the last quarter. Financial Insights Inc. raised its position in shares of Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after buying an additional 28 shares in the last quarter. Wayfinding Financial LLC raised its position in shares of Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after buying an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC raised its position in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after buying an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its position in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after buying an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president owned 16,057 shares of the company's stock, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock valued at $18,648,987 over the last 90 days. 0.10% of the stock is owned by company insiders.

Home Depot Trading Up 1.7%

NYSE HD traded up $7.01 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 quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company's 50-day moving average is $385.21 and its 200 day moving average is $371.29. The firm has a market cap 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 announced its quarterly earnings results 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 net margin of 8.86% and a return on equity of 193.99%. 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 company posted $4.60 earnings per share. 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, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley upped 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. Jefferies Financial Group lowered their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. One research 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 data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $432.52.

About Home Depot

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.