The Home Depot, Inc. $HD Shares Acquired by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in The Home Depot by 23.9%, acquiring an additional 17,956 shares during the 1st quarter, bringing their total holdings to 93,174 shares valued at approximately $34.1 million.
• Home Depot reported earnings of $3.56 per share for the last quarter, slightly below analyst expectations, despite a year-over-year revenue increase of 9.4% to $39.86 billion.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $427.48, while 70.86% of shares are owned by institutional investors.

Kovitz Investment Group Partners LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,174 shares of the home improvement retailer's stock after buying an additional 17,956 shares during the period. Kovitz Investment Group Partners LLC's holdings in Home Depot were worth $34,148,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new stake in Home Depot in the 4th quarter valued at about $29,000. Abound Financial LLC acquired a new stake in shares of Home Depot in the 1st quarter worth approximately $31,000. Quarry LP lifted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the period. Iron Horse Wealth Management LLC lifted its stake 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 valued at $36,000 after purchasing an additional 46 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings 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 acquiring an additional 30 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Royal Bank Of Canada cut their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. DA Davidson reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday. Wells Fargo & Company set a $420.00 price target on shares of Home Depot and gave the company an "overweight" rating in a report on Monday, June 30th. Finally, Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $427.76.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE HD traded up $12.2460 during trading hours on Tuesday, hitting $406.9460. The company's stock had a trading volume of 6,225,274 shares, compared to its average volume of 3,539,465. The company's 50 day simple moving average is $371.05 and its two-hundred day simple moving average is $371.19. The company has a market cap of $404.88 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same period in the previous year, the firm earned $4.60 earnings per share. The firm's quarterly 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 expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.