Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Position in The Home Depot, Inc. $HD

Key Points

• Empirical Wealth Management increased its stake in The Home Depot by 5.3%, owning a total of 18,717 shares worth approximately $6.86 million.
• A variety of hedge funds expanded their investments in Home Depot, with Asset Planning Services Inc. LA ADV increasing its holdings by 99,400.7%, now owning nearly 19 million shares valued at around $6.95 billion.
• Home Depot reported $4.68 earnings per share for its latest quarter, missing estimates slightly, while setting its FY 2025 EPS guidance at $14.94.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,717 shares of the home improvement retailer's stock after buying an additional 934 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Home Depot were worth $6,863,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV grew its holdings in Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after buying an additional 18,956,701 shares in the last quarter. Nuveen LLC bought a new stake in shares of Home Depot during the 1st quarter valued at about $2,076,592,000. Price T Rowe Associates Inc. MD boosted its position in shares of Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at about $418,486,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research assumed coverage on Home Depot in a research report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price target for the company. Mizuho lifted their price target on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Robert W. Baird lifted their price target on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Stifel Nicolaus lifted their price target on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, DA Davidson restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. One investment 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $436.40.

Insider Activity

In other news, EVP Angie Brown sold 1,000 shares of the business'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 transaction, the executive vice president directly owned 3,837 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction that occurred 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 directly 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. In the last ninety days, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

Shares of HD stock opened at $394.56 on Friday. 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 fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a 50 day moving average price of $402.24 and a two-hundred day moving average price of $375.89. The company has a market capitalization of $392.74 billion, a P/E ratio of 26.80, a PEG ratio of 3.76 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the firm posted $4.60 EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

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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