EdgeRock Capital LLC Takes Position in The Home Depot, Inc. $HD

Key Points

• EdgeRock Capital LLC acquired 1,961 shares of The Home Depot, Inc. valued at approximately $721,000 during the second quarter.
• Home Depot reported $4.68 EPS for the last quarter, slightly missing analysts' expectations, with revenue of $45.28 billion for the period.
• The company announced a quarterly dividend of $2.30 per share, reflecting a 2.3% yield, with a payout ratio of 62.50%.

EdgeRock Capital LLC bought a new position 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 (SEC). The firm bought 1,961 shares of the home improvement retailer's stock, valued at approximately $721,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Planning Services Inc. LA ADV lifted its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Nuveen LLC purchased a new stake in Home Depot during the first quarter valued at about $2,076,592,000. Price T Rowe Associates Inc. MD increased its stake in Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after acquiring an additional 1,494,261 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Home Depot in the 2nd quarter worth about $418,486,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.6%

Shares of Home Depot stock opened at $407.43 on Friday. The business has a 50-day moving average price of $398.84 and a 200 day moving average price of $374.32. 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 cap of $405.55 billion, a P/E ratio of 27.68, a P/E/G ratio of 3.88 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the business earned $4.60 EPS. The company'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. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid 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 presently 62.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Robert W. Baird boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note 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 research note on Tuesday, August 19th. Oppenheimer raised their price target on shares of Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday. Finally, Truist Financial boosted their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $436.40.

Insider Activity at Home Depot

In related news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their position. 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. 0.10% of the stock is owned by insiders.

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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