BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in The Home Depot, Inc. $HD

Key Points

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BI Asset Management Fondsmaeglerselskab A S grew its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,711 shares of the home improvement retailer's stock after purchasing an additional 11,516 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Home Depot were worth $44,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Navigoe LLC purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $29,000. Abound Financial LLC purchased a new position in Home Depot during the 1st quarter worth $31,000. Iron Horse Wealth Management LLC increased its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the period. Quarry LP increased its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HD. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. TD Securities downgraded Home Depot to a "buy" rating in a report on Monday, June 2nd. Mizuho lifted their price target on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday. Truist Financial lifted their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Finally, Evercore ISI set a $400.00 price target on Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $432.52.

Insider Buying and Selling at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,672 shares of company stock valued at $16,827,675. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Up 3.8%

Shares of Home Depot stock traded up $15.2960 during trading on Friday, reaching $412.9960. The company's stock had a trading volume of 5,283,627 shares, compared to its average volume of 3,560,177. The company has a 50-day simple moving average of $373.34 and a two-hundred day simple moving average of $371.56. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The company has a market cap of $410.90 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 3.81 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period in the prior year, the firm posted $4.60 EPS. The business'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, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm 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. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's payout ratio is presently 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.