Ethic Inc. Increases Stake in The Home Depot, Inc. $HD

Key Points

• Ethic Inc. increased its stake in The Home Depot, Inc. by 6.0% during the first quarter, owning a total of 100,289 shares valued at approximately $36.66 million.
• Home Depot reported a quarterly EPS of $3.56, missing analysts' estimates, but its revenue increased by 9.4% compared to the previous year, totaling $39.86 billion.
• The company declared a quarterly dividend of $2.30 per share, yielding 2.3%, with a payout ratio of 62.42% as of the last filing.

Ethic Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 100,289 shares of the home improvement retailer's stock after acquiring an additional 5,709 shares during the period. Home Depot makes up 0.7% of Ethic Inc.'s investment portfolio, making the stock its 14th biggest position. Ethic Inc.'s holdings in Home Depot were worth $36,658,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in HD. Navigoe LLC bought a new stake in Home Depot in the fourth quarter worth $29,000. Abound Financial LLC purchased a new position in shares of Home Depot during the first quarter valued at about $31,000. Quarry LP increased its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the period. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Mizuho cut their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Truist Financial lifted their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.76.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE:HD traded up $11.5230 during trading hours on Tuesday, hitting $406.2230. 7,621,043 shares of the company were exchanged, compared to its average volume of 3,548,961. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a market capitalization of $404.16 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.80 and a beta of 1.00. The company's 50 day moving average price is $371.05 and its 200-day moving average price is $371.19.

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 analysts' consensus estimates of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.