Coordinated Financial Services Inc. Purchases New Position in The Home Depot, Inc. $HD

Key Points

• Coordinated Financial Services Inc. acquired 2,624 shares of The Home Depot, Inc. (NYSE:HD) valued at approximately $962,000 during the second quarter, reflecting increased interest from hedge funds in the company's stock.
• Analysts have optimistic forecasts for Home Depot, with several firms setting target prices ranging from $425.00 to $497.00, and a consensus rating of "Moderate Buy".
• The Home Depot's most recent earnings report revealed an EPS of $4.68, slightly missing analysts' expectations, though revenue was reported at $45.28 billion, a 4.9% increase year-over-year.

Coordinated Financial Services Inc. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,624 shares of the home improvement retailer's stock, valued at approximately $962,000.

A number of other hedge funds also recently bought and sold shares of HD. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new position in shares of Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in shares of 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. purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HD shares. Wolfe Research started coverage on Home Depot in a report on Thursday, September 18th. They set an "outperform" rating and a $497.00 target price on the stock. Stifel Nicolaus upped 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. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. DA Davidson restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Morgan Stanley upped their price target on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $435.42.

Home Depot Stock Performance

HD stock opened at $377.66 on Friday. The stock has a market capitalization of $375.92 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.64 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. 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 stock's 50 day simple moving average is $403.50 and its 200 day simple moving average is $376.99.

Home Depot (NYSE:HD - Get Free Report) last released 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). The business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's dividend payout ratio is 62.50%.

Insider Activity

In other news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on 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 transaction, the chief financial officer directly owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Bastek sold 3,783 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company's stock.

Home Depot 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.

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