Chevy Chase Trust Holdings LLC Has $196.97 Million Stock Position in The Home Depot, Inc. $HD

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Home Depot by 0.9%, owning 537,241 shares valued at $196.97 million, making it the firm's 25th largest holding.
• Analysts have raised Home Depot's price targets, with estimates ranging from $420.00 to $455.00 and an overall average target of $435.42, reflecting a strong market outlook.
• Home Depot recently declared a quarterly dividend of $2.30 per share, representing an annualized amount of $9.20 and a dividend yield of 2.4%.

Chevy Chase Trust Holdings LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 537,241 shares of the home improvement retailer's stock after purchasing an additional 4,784 shares during the quarter. Home Depot accounts for about 0.6% of Chevy Chase Trust Holdings LLC's investment portfolio, making the stock its 25th largest holding. Chevy Chase Trust Holdings LLC owned 0.05% of Home Depot worth $196,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HD. Legend Financial Advisors Inc. acquired a new stake in Home Depot during the 2nd quarter worth about $28,000. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC boosted its position 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 acquiring an additional 46 shares during the period. Global X Japan Co. Ltd. acquired a new stake in Home Depot during the 2nd quarter worth about $40,000. Finally, GFG Capital LLC acquired a new stake in Home Depot during the 2nd quarter worth about $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on HD. Oppenheimer boosted their target price on Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a report on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of Home Depot in a report on Wednesday, October 8th. Truist Financial lifted their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Stifel Nicolaus increased their target price on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $435.42.

Home Depot Trading Down 0.2%

NYSE:HD opened at $387.40 on Friday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business's 50-day moving average price is $403.62 and its two-hundred day moving average price is $377.73. 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 has a market capitalization of $385.61 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 3.68 and a beta of 1.00.

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 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 company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the company posted $4.60 EPS. The company'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 analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction dated 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 directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Insiders own 0.10% of the company's stock.

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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