DekaBank Deutsche Girozentrale Grows Stake in The Home Depot, Inc. $HD

Key Points

• DekaBank Deutsche Girozentrale increased its stake in The Home Depot by 31.1% during the 2nd quarter, owning approximately $310.9 million worth of shares.
• Home Depot reported $4.68 earnings per share (EPS) for the last quarter, slightly missing analysts' expectations, while revenue was $45.28 billion, also below estimates.
• The company announced a quarterly dividend of $2.30 per share, translating to an annualized dividend yield of 2.3% with a payout ratio of 62.5%.

DekaBank Deutsche Girozentrale grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 31.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 840,158 shares of the home improvement retailer's stock after buying an additional 199,533 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.08% of Home Depot worth $310,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. bought a new position in Home Depot during the 2nd quarter valued at approximately $28,000. Abound Financial LLC bought a new position in Home Depot during the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased 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 valued at $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new position in Home Depot during the 2nd quarter valued at approximately $40,000. Finally, GFG Capital LLC bought a new position in Home Depot during the 2nd quarter valued at approximately $40,000. 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 on Wednesday, August 20th. The stock was 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 in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. This trade represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 in the last ninety days. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HD. Truist Financial raised their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Home Depot in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, DA Davidson reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average price target of $435.42.

Home Depot Stock Performance

HD stock opened at $391.79 on Monday. The company has a market cap of $389.98 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 3.72 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. 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 stock's fifty day moving average price is $403.70 and its 200-day moving average price is $378.12.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's payout ratio is 62.50%.

Home Depot Company 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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