EFG Asset Management North America Corp. Acquires 1,134 Shares of The Home Depot, Inc. $HD

Key Points

• EFG Asset Management North America Corp. increased its stake in The Home Depot by 8.4% in the first quarter, acquiring an additional 1,134 shares, bringing its total to 14,577 shares.
• Wall Street analysts maintain a positive outlook on Home Depot, with a consensus price target of $432.52 and 19 'Buy' ratings among analysts.
• Home Depot announced a quarterly dividend of $2.30 per share, set to be paid on September 18th, representing an annual yield of 2.3%.

EFG Asset Management North America Corp. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,577 shares of the home improvement retailer's stock after acquiring an additional 1,134 shares during the quarter. Home Depot accounts for about 0.9% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 21st largest holding. EFG Asset Management North America Corp.'s holdings in Home Depot were worth $5,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Eventide Asset Management LLC lifted its holdings in Home Depot by 28.2% in the 1st quarter. Eventide Asset Management LLC now owns 22,888 shares of the home improvement retailer's stock worth $8,275,000 after buying an additional 5,032 shares during the period. Cinctive Capital Management LP lifted its holdings in Home Depot by 238.5% in the 1st quarter. Cinctive Capital Management LP now owns 60,354 shares of the home improvement retailer's stock worth $22,119,000 after buying an additional 42,522 shares during the period. Boothbay Fund Management LLC purchased a new stake in Home Depot in the 1st quarter worth approximately $9,165,000. Bridgeway Capital Management LLC lifted its holdings in Home Depot by 10.8% in the 1st quarter. Bridgeway Capital Management LLC now owns 52,317 shares of the home improvement retailer's stock worth $19,174,000 after buying an additional 5,104 shares during the period. Finally, Belmont Capital LLC lifted its holdings in Home Depot by 4.0% in the 1st quarter. Belmont Capital LLC now owns 39,394 shares of the home improvement retailer's stock worth $14,438,000 after buying an additional 1,500 shares during the period. Hedge funds and other 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 the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 3,837 shares of the company's stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock worth $18,648,987 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Up 0.3%

Shares of HD traded up $1.25 on Monday, reaching $420.20. The stock had a trading volume of 3,740,170 shares, compared to its average volume of 3,558,608. The firm has a market capitalization of $418.26 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.97 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 company has a 50-day simple moving average of $385.21 and a 200-day simple moving average of $371.13. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HD. TD Securities cut Home Depot to a "buy" rating in a report on Monday, June 2nd. Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Stifel Nicolaus increased their price objective on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Finally, Robert W. Baird raised their target price on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $432.52.

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.