Argent Capital Management LLC Grows Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Argent Capital Management LLC increased its stake in The Home Depot by 2.3%, holding a total of 65,882 shares valued at approximately $24.15 million.
• Insider transactions showed significant sales, including EVP Angie Brown, who sold 1,000 shares for $404,070, reducing her position by 20.67%.
• Wells Fargo upgraded Home Depot's target price from $420 to $450, with other firms also raising their targets and maintaining positive ratings for the stock.

Argent Capital Management LLC grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,882 shares of the home improvement retailer's stock after acquiring an additional 1,501 shares during the quarter. Argent Capital Management LLC's holdings in Home Depot were worth $24,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crew Capital Management Ltd. raised its stake in shares of Home Depot by 51.5% in the second quarter. Crew Capital Management Ltd. now owns 4,084 shares of the home improvement retailer's stock valued at $1,497,000 after acquiring an additional 1,389 shares during the period. Hoey Investments Inc. raised its stake in shares of Home Depot by 262.7% in the second quarter. Hoey Investments Inc. now owns 2,568 shares of the home improvement retailer's stock valued at $942,000 after acquiring an additional 1,860 shares during the period. CHICAGO TRUST Co NA raised its stake in shares of Home Depot by 6.4% in the second quarter. CHICAGO TRUST Co NA now owns 9,590 shares of the home improvement retailer's stock valued at $3,516,000 after acquiring an additional 573 shares during the period. Dogwood Wealth Management LLC raised its stake in shares of Home Depot by 7.2% in the second quarter. Dogwood Wealth Management LLC now owns 2,324 shares of the home improvement retailer's stock valued at $854,000 after acquiring an additional 157 shares during the period. Finally, Argentarii LLC raised its stake in shares of Home Depot by 10.6% in the second quarter. Argentarii LLC now owns 7,641 shares of the home improvement retailer's stock valued at $2,802,000 after acquiring an additional 734 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In other news, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the firm's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. Wells Fargo & Company increased their target price on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Morgan Stanley raised their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Mizuho raised their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. 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's stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $435.60.

Home Depot Stock Down 0.7%

Shares of Home Depot stock opened at $412.86 on Tuesday. 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 Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm's 50-day moving average is $395.79 and its two-hundred day moving average is $373.58. The stock has a market cap of $410.96 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 3.94 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its 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 return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 earnings per share. The firm's revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, 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 company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

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.

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