Hamlin Capital Management LLC Grows Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Hamlin Capital Management LLC increased its stake in The Home Depot by 1.9% during the 2nd quarter, now holding 440,622 shares valued at approximately $161.55 million.
• Home Depot declared a quarterly dividend of $2.30 per share, which translates to an annualized dividend of $9.20 and a yield of 2.3%.
• Despite Home Depot's revenue rising by 4.9% year-over-year, the reported EPS of $4.68 missed analysts' expectations of $4.69 by a narrow margin.

Hamlin Capital Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 440,622 shares of the home improvement retailer's stock after purchasing an additional 8,204 shares during the period. Home Depot comprises approximately 3.7% of Hamlin Capital Management LLC's portfolio, making the stock its 15th largest position. Hamlin Capital Management LLC's holdings in Home Depot were worth $161,550,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Koshinski Asset Management Inc. lifted its position in shares of Home Depot by 11.3% during the 2nd quarter. Koshinski Asset Management Inc. now owns 9,107 shares of the home improvement retailer's stock worth $3,339,000 after purchasing an additional 924 shares during the last quarter. Citizens Business Bank raised its stake in Home Depot by 1.7% during the 2nd quarter. Citizens Business Bank now owns 8,165 shares of the home improvement retailer's stock worth $2,994,000 after acquiring an additional 139 shares in the last quarter. Hoese & Co LLP raised its stake in Home Depot by 25.7% during the 2nd quarter. Hoese & Co LLP now owns 367 shares of the home improvement retailer's stock worth $135,000 after acquiring an additional 75 shares in the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in Home Depot by 0.9% during the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 9,611 shares of the home improvement retailer's stock worth $3,524,000 after acquiring an additional 82 shares in the last quarter. Finally, Ariston Services Group raised its stake in Home Depot by 8.3% during the 2nd quarter. Ariston Services Group now owns 676 shares of the home improvement retailer's stock worth $248,000 after acquiring an additional 52 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 16,057 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 1.1%

NYSE HD opened at $391.79 on Friday. 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 firm has a market cap of $389.98 billion, a PE ratio of 26.62, a P/E/G ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm's fifty day moving average is $403.70 and its two-hundred day moving average is $377.92.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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 business 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 company's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, September 4th. Home Depot's payout ratio is 62.50%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. DA Davidson reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Oppenheimer lifted their price target on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research note on Thursday, September 25th. Wells Fargo & Company lifted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Stifel Nicolaus lifted their price target on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. 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 assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.42.

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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