Gallacher Capital Management LLC Buys 1,239 Shares of The Home Depot, Inc. $HD

Key Points

• Gallacher Capital Management LLC increased its stake in Home Depot by 76.8% during Q2, now owning 2,853 shares valued at approximately $1,046,000.
• Home Depot reported earnings of $4.68 EPS for the most recent quarter, slightly missing the consensus estimate of $4.69, with revenues totaling $45.28 billion.
• The company will pay a quarterly dividend of $2.30 on September 18th, 2023, representing a yield of 2.2% and an annualized dividend of $9.20.

Gallacher Capital Management LLC increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 76.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,853 shares of the home improvement retailer's stock after purchasing an additional 1,239 shares during the period. Gallacher Capital Management LLC's holdings in Home Depot were worth $1,046,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Abound Financial LLC bought a new position in Home Depot in the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC raised its position in Home Depot by 86.8% in the 1st 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. Compass Financial Services Inc purchased a new position in Home Depot in the 1st quarter worth about $41,000. Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $45,000. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

HD stock traded down $0.84 during midday trading on Tuesday, hitting $421.87. The company's stock had a trading volume of 3,724,762 shares, compared to its average volume of 3,850,394. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The firm has a market capitalization of $419.93 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 4.01 and a beta of 1.00. The company has a 50 day moving average of $392.22 and a two-hundred day moving average of $372.74.

Home Depot (NYSE:HD - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders 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 dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Mizuho increased their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. One research 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, Home Depot has an average rating of "Moderate Buy" and an average price target of $432.52.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares of the company's stock, valued at $1,550,416.59. This represents a 20.67% 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 worth $19,623,432. 0.10% of the stock is owned by corporate insiders.

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.