Eventide Asset Management LLC Buys 5,032 Shares of The Home Depot, Inc. $HD

Key Points

• Eventide Asset Management LLC increased its holdings in The Home Depot, Inc. by 28.2% in Q1, bringing their total investment to approximately $8.28 million with 22,888 shares.
• Home Depot recently declared a quarterly dividend of $2.30 per share, which equates to an annual yield of 2.2% and a payout ratio of 62.5%.
• Despite a slight earnings miss, Home Depot's quarterly revenue rose 4.9% year-over-year, reaching $45.28 billion for the quarter.

Eventide Asset Management LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 28.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,888 shares of the home improvement retailer's stock after acquiring an additional 5,032 shares during the period. Eventide Asset Management LLC's holdings in Home Depot were worth $8,275,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after buying an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its position in Home Depot by 99,400.7% in the first 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. Charles Schwab Investment Management Inc. boosted its position in Home Depot by 6.6% in the first 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 buying an additional 891,326 shares in the last quarter. GAMMA Investing LLC boosted its position 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 buying an additional 10,210,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Home Depot by 19.3% in the first 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 buying an additional 1,494,261 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HD shares. Truist Financial boosted their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target 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. Royal Bank Of Canada reduced their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, Gordon Haskett boosted their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Stock Up 0.3%

Shares of HD stock traded up $1.25 during trading hours on Monday, hitting $420.20. 3,740,170 shares of the company were exchanged, compared to its average volume of 3,709,986. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a 50 day moving average of $385.21 and a two-hundred day moving average of $371.13. The company has a market capitalization of $418.26 billion, a PE ratio of 28.55, a PEG ratio of 3.97 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend 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 currently 62.50%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm'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 sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,532 shares of company stock worth $18,648,987. Corporate insiders own 0.10% of the company's stock.

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.