The Home Depot, Inc. $HD Shares Purchased by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in The Home Depot by 11.3%, owning 1,108,170 shares valued at approximately $406.13 million as of the latest SEC filing.
• Several hedge funds made new or increased investments in Home Depot, with institutional investors now holding 70.86% of the stock.
• Home Depot's most recent financial results showed a missed EPS estimate of $3.56, while the company reported revenue of $39.86 billion, exceeding expectations.

American Century Companies Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,108,170 shares of the home improvement retailer's stock after buying an additional 112,396 shares during the period. American Century Companies Inc. owned approximately 0.11% of Home Depot worth $406,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. LWM Advisory Services LLC increased its position in Home Depot by 3.8% during the 1st quarter. LWM Advisory Services LLC now owns 1,404 shares of the home improvement retailer's stock valued at $514,000 after buying an additional 51 shares in the last quarter. Ethic Inc. increased its position in Home Depot by 6.0% during the 1st quarter. Ethic Inc. now owns 100,289 shares of the home improvement retailer's stock valued at $36,658,000 after buying an additional 5,709 shares in the last quarter. Liontrust Investment Partners LLP increased its position in Home Depot by 54.6% during the 1st quarter. Liontrust Investment Partners LLP now owns 37,129 shares of the home improvement retailer's stock valued at $13,607,000 after buying an additional 13,110 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Home Depot by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,004,784 shares of the home improvement retailer's stock valued at $1,834,008,000 after purchasing an additional 64,222 shares during the period. Finally, Horizon Investments LLC increased its holdings in shares of Home Depot by 10.9% in the first quarter. Horizon Investments LLC now owns 11,244 shares of the home improvement retailer's stock valued at $4,121,000 after purchasing an additional 1,103 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HD shares. Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Truist Financial increased their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday. Finally, 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 note on Monday. One research 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 has a consensus rating of "Moderate Buy" and an average target price of $427.76.

Home Depot Stock Up 2.9%

NYSE:HD traded up $11.5230 during midday trading on Tuesday, reaching $406.2230. The company had a trading volume of 7,621,043 shares, compared to its average volume of 3,548,961. The firm has a market capitalization of $404.16 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.80 and a beta of 1.00. The stock's fifty day simple moving average is $371.05 and its 200-day simple moving average is $371.19. 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 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.