Goldstone Financial Group LLC Boosts Holdings in The Home Depot, Inc. $HD

Key Points

• Goldstone Financial Group LLC increased its holdings in Home Depot by 25.9% in Q2, resulting in ownership of 3,127 shares valued at approximately $1.16 million.
• Analysts have boosted their target prices for Home Depot, with Morgan Stanley raising its forecast from $415 to $430, reflecting a positive outlook for the company.
• Home Depot announced a quarterly dividend of $2.30 payable on September 18th, which reflects an annualized dividend of $9.20, representing a yield of 2.2%.

Goldstone Financial Group LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 25.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,127 shares of the home improvement retailer's stock after purchasing an additional 643 shares during the quarter. Goldstone Financial Group LLC's holdings in Home Depot were worth $1,162,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Abound Financial LLC purchased a new stake in shares of Home Depot during the first quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its stake 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 purchasing an additional 46 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Home Depot during the first quarter valued at $41,000. Quest 10 Wealth Builders Inc. boosted its stake 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 purchasing an additional 30 shares during the period. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $45,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HD shares. Morgan Stanley boosted their target price on shares of Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. Finally, Robert W. Baird lifted their price objective on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Insider Buying and Selling at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the firm's stock in a transaction dated 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 owned 16,057 shares of the company's stock, 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 quarter, insiders sold 46,532 shares of company stock worth $18,648,987. Insiders own 0.10% of the company's stock.

Home Depot Price Performance

Shares of NYSE HD opened at $423.33 on Monday. 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 Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business's 50 day moving average price is $390.03 and its 200 day moving average price is $372.22. The firm has a market cap of $421.38 billion, a P/E ratio of 28.76, a P/E/G ratio of 4.01 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the prior year, the company posted $4.60 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Home Depot 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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