The Home Depot, Inc. $HD Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in The Home Depot by 44.2% during the first quarter, owning a total of 216,960 shares valued at $78.23 million.
• Home Depot reported a miss in earnings for the last quarter, with $4.68 EPS compared to the expected $4.69, and quarterly revenue rose 4.9% year-over-year to $45.28 billion.
• The company announced a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.2%, with a dividend payout ratio of 62.5%.

AQR Capital Management LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 44.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,960 shares of the home improvement retailer's stock after acquiring an additional 66,502 shares during the quarter. AQR Capital Management LLC's holdings in Home Depot were worth $78,231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Advisors Asset Management Inc. raised its position in Home Depot by 1.9% during the first quarter. Advisors Asset Management Inc. now owns 90,649 shares of the home improvement retailer's stock valued at $33,222,000 after acquiring an additional 1,691 shares in the last quarter. Alexis Investment Partners LLC raised its position in Home Depot by 1.6% during the first quarter. Alexis Investment Partners LLC now owns 3,422 shares of the home improvement retailer's stock valued at $1,235,000 after acquiring an additional 54 shares in the last quarter. Alight Capital Management LP purchased a new position in Home Depot during the first quarter valued at approximately $5,497,000. Alyeska Investment Group L.P. purchased a new position in Home Depot during the first quarter valued at approximately $33,507,000. Finally, 1 North Wealth Services LLC purchased a new position in Home Depot during the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Up 0.3%

Home Depot stock traded up $1.25 during trading on Monday, reaching $420.20. 3,740,170 shares of the company were exchanged, compared to its average volume of 3,709,986. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The company has a market capitalization of $418.26 billion, a P/E ratio of 28.55, a PEG ratio of 3.97 and a beta of 1.00. The stock's 50 day simple moving average is $386.27 and its two-hundred day simple moving average is $371.38.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the prior year, the firm posted $4.60 EPS. Home Depot's quarterly 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. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business 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 of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HD. DA Davidson reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Truist Financial lifted their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Wells Fargo & Company raised their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada dropped their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $432.52.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,532 shares of company stock worth $18,648,987. 0.10% of the stock is currently owned by company insiders.

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.