674 Shares in The Home Depot, Inc. $HD Acquired by LeConte Wealth Management LLC

Key Points

• LeConte Wealth Management LLC invested approximately $247,000 to acquire 674 shares of The Home Depot, Inc., indicating growing interest from institutional investors in the home improvement retailer.
• Home Depot reported a quarterly earnings miss with $3.56 EPS, slightly below analyst expectations of $3.59, while revenue was up 9.4% year-over-year at $39.86 billion.
• Analysts maintain a positive outlook with an average target price of $427.48 for Home Depot shares, despite some revisions in price targets from various research firms.

LeConte Wealth Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 674 shares of the home improvement retailer's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $29,000. Abound Financial LLC bought a new stake in shares of Home Depot in the first quarter valued at about $31,000. Quarry LP lifted its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of Home Depot by 86.8% in 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 in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in shares of Home Depot by 35.7% in 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HD. Truist Financial boosted their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Gordon Haskett boosted their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Robert W. Baird boosted their price target on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Royal Bank Of Canada cut their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $432.52.

Insider Activity at Home Depot

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

Home Depot Stock Performance

NYSE:HD traded down $5.1670 on Wednesday, hitting $402.0330. The company's stock had a trading volume of 4,194,069 shares, compared to its average volume of 3,553,171. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The stock has a fifty day moving average of $371.82 and a two-hundred day moving average of $371.43. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $399.99 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00.

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 the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period in the previous year, the company posted $4.60 EPS. Home Depot's revenue for the quarter was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's dividend payout ratio 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.