FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys 2,795 Shares of The Home Depot, Inc. $HD

Key Points

• Farmers & Merchants Trust Co of Long Beach has increased its stake in Home Depot by 54%, acquiring an additional 2,795 shares, bringing its total holdings to 7,971 shares valued at approximately $2.92 million.
• Home Depot's quarterly earnings reported a slight miss with an EPS of $4.68, falling short of analyst estimates of $4.69, despite year-over-year revenue growth of 4.9%.
• Multiple equity analysts have set target prices for Home Depot shares, with Mizuho raising its target from $435 to $450 and others maintaining ratings of "outperform" and "buy" with an average price target of $436.40.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 54.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,971 shares of the home improvement retailer's stock after acquiring an additional 2,795 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Home Depot were worth $2,922,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new position in Home Depot during the second quarter worth approximately $28,000. Abound Financial LLC acquired a new position in Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its position in 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 worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. acquired a new position in Home Depot during the second quarter worth approximately $40,000. Finally, Compass Financial Services Inc acquired a new position in Home Depot during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HD shares. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Truist Financial upped their target price on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. decreased their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 target price on the stock. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $436.40.

Home Depot Stock Up 0.7%

Shares of HD opened at $410.16 on Monday. 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 $408.27 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 3.89 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 stock has a fifty day moving average of $399.85 and a 200-day moving average of $374.87.

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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm 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 company posted $4.60 earnings per share. The firm's 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. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Insider Buying and Selling at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 of the company's stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. Company insiders own 0.10% of the company's stock.

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.

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