Edge Wealth Management LLC Raises Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Edge Wealth Management LLC significantly increased its stake in The Home Depot by 4,275.6%, acquiring a total of 27,654 shares worth approximately $10.15 million.
• Research firms have mixed views on Home Depot, with target prices ranging from $433.00 to $460.00 and the stock rated as a "Moderate Buy" by analysts.
• Home Depot recently declared a quarterly dividend of $2.30 per share, representing a 2.2% yield and a payout ratio of 62.50%.

Edge Wealth Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4,275.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,654 shares of the home improvement retailer's stock after purchasing an additional 27,022 shares during the quarter. Home Depot comprises 2.0% of Edge Wealth Management LLC's investment portfolio, making the stock its 19th biggest position. Edge Wealth Management LLC's holdings in Home Depot were worth $10,149,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Abacus Wealth Partners LLC purchased a new stake in shares of Home Depot during the second quarter valued at about $219,000. Southland Equity Partners LLC raised its position in Home Depot by 2.2% in the second quarter. Southland Equity Partners LLC now owns 2,464 shares of the home improvement retailer's stock worth $904,000 after acquiring an additional 54 shares in the last quarter. Whitener Capital Management Inc. boosted its stake in Home Depot by 3.6% in the 2nd quarter. Whitener Capital Management Inc. now owns 11,936 shares of the home improvement retailer's stock worth $4,377,000 after buying an additional 413 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Home Depot during the 2nd quarter worth approximately $18,951,000. Finally, Border to Coast Pensions Partnership Ltd boosted its position in Home Depot by 5.6% during the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 222,374 shares of the home improvement retailer's stock worth $81,531,000 after acquiring an additional 11,838 shares during the period. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wolfe Research assumed coverage on Home Depot in a research report on Thursday. They issued an "outperform" rating and a $497.00 price target on the stock. DA Davidson reissued a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. JPMorgan Chase & Co. decreased their target price on shares of 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, TD Securities cut shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and a consensus target price of $435.00.

Home Depot Price Performance

Shares of NYSE:HD traded down $2.83 during trading hours on Monday, hitting $412.86. 2,655,518 shares of the company's stock traded hands, compared to its average volume of 3,792,485. The company has a market cap of $410.96 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00. The company's fifty day simple moving average is $395.79 and its two-hundred day simple moving average is $373.58. 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 Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. Home Depot's payout ratio is currently 62.50%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot 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 of the company's stock, 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. Over the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by corporate insiders.

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.