Alyeska Investment Group L.P. Makes New Investment in The Home Depot, Inc. $HD

Key Points

• Alyeska Investment Group L.P. has acquired a new position in The Home Depot, Inc., purchasing 91,426 shares valued at approximately $33.5 million.
• Institutional investors now own 70.86% of Home Depot's stock, with several funds significantly increasing their holdings during the first quarter of this year.
• The company reported a quarterly EPS of $4.68, missing the consensus estimate of $4.69, though revenue rose by 4.9% year-over-year.

Alyeska Investment Group L.P. acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 91,426 shares of the home improvement retailer's stock, valued at approximately $33,507,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV increased its holdings in Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC increased its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Nuveen LLC bought a new stake in Home Depot during the 1st quarter worth approximately $2,076,592,000. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 19.3% during the 1st 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 6.6% during the 1st 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 in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HD. TD Securities lowered Home Depot to a "buy" rating in a report on Monday, June 2nd. Royal Bank Of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their target price on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. One investment 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $432.52.

Insiders Place Their Bets

In related 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 value of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% 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 link. Also, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% 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. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Home Depot stock opened at $407.06 on Thursday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. 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 business's 50 day simple moving average is $383.23 and its 200 day simple moving average is $371.33. The company has a market cap of $405.18 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 3.86 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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 net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 EPS. Home Depot's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts forecast 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. Investors of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.