Destiny Wealth Partners LLC Buys New Holdings in The Home Depot, Inc. $HD

Key Points

• Destiny Wealth Partners LLC acquired 1,186 shares of The Home Depot for approximately $435,000 in the second quarter, reflecting growing institutional interest in the company.
• Home Depot reported quarterly earnings of $4.68 EPS, slightly missing estimates, with revenues of $45.28 billion, showing a 4.9% year-over-year increase.
• Institutional investors own 70.86% of Home Depot's stock, with several institutions recently increasing their holdings in the company.

Destiny Wealth Partners LLC purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,186 shares of the home improvement retailer's stock, valued at approximately $435,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HD. Client 1ST Advisory Group LLC increased its holdings in shares of Home Depot by 1.5% in the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock worth $688,000 after purchasing an additional 27 shares during the last quarter. Financial Insights Inc. boosted its position in shares of Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the last quarter. Wayfinding Financial LLC raised its stake in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC grew its stake in shares of Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares in the last quarter. Finally, First Interstate Bank increased its holdings in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock worth $3,306,000 after buying an additional 28 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Activity

In related news, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction dated 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 of the company's stock, 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 have sold a total of 48,835 shares of company stock worth $19,623,432 in the last three months. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Down 0.6%

Shares of HD stock opened at $407.43 on Friday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $405.55 billion, a P/E ratio of 27.68, a PEG ratio of 3.88 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock's fifty day moving average is $398.84 and its two-hundred day moving average is $374.32.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm 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%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. Morgan Stanley lifted their price target on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. cut their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Oppenheimer increased their price objective on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Mizuho boosted their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. One investment 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $436.40.

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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