The Home Depot, Inc. $HD Shares Bought by Ceredex Value Advisors LLC

Key Points

• Ceredex Value Advisors LLC increased its stake in The Home Depot by 6.2%, now holding 147,952 shares valued at approximately $54.2 million, making it the firm's 20th largest position.
• The Home Depot reported a Q2 earnings miss with earnings per share of $4.68, slightly below the expected $4.69, despite a 4.9% increase in revenue year-over-year.
• The company declared a quarterly dividend of $2.30 per share, which will be paid on September 18, 2023, representing an annualized yield of 2.2%.

Ceredex Value Advisors LLC increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,952 shares of the home improvement retailer's stock after acquiring an additional 8,647 shares during the quarter. Home Depot comprises about 1.2% of Ceredex Value Advisors LLC's holdings, making the stock its 20th biggest holding. Ceredex Value Advisors LLC's holdings in Home Depot were worth $54,223,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HD. Navigoe LLC bought a new stake in Home Depot during the fourth quarter worth about $29,000. Abound Financial LLC bought a new position in shares of Home Depot during the first quarter valued at about $31,000. Iron Horse Wealth Management LLC lifted its holdings in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the period. Quarry LP raised its holdings in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares of the company's stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the transaction, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock valued at $18,648,987 over the last quarter. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HD shares. Wells Fargo & Company raised 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. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group dropped their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. One 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. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Trading Down 0.1%

NYSE:HD traded down $0.41 during midday trading on Friday, hitting $407.04. 2,210,294 shares of the company traded hands, compared to its average volume of 3,546,297. 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 firm's fifty day moving average is $379.27 and its 200-day moving average is $371.45. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The firm has a market capitalization of $405.16 billion, a P/E ratio of 27.65, a P/E/G ratio of 3.87 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 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.