LGT Fund Management Co Ltd. Has $6.45 Million Holdings in The Home Depot, Inc. $HD

Key Points

• LGT Fund Management Co Ltd. increased its holdings in The Home Depot by 5.7% during Q2, bringing its total to approximately $6.45 million, totaling 17,584 shares.
• Home Depot's Q2 earnings per share were reported at $4.68, slightly missing the consensus estimate, and its revenue increased by 4.9% year-over-year.
• The company announced a quarterly dividend of $2.30, resulting in an annualized payout of $9.20 with a yield of 2.3%.

LGT Fund Management Co Ltd. grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,584 shares of the home improvement retailer's stock after purchasing an additional 947 shares during the period. LGT Fund Management Co Ltd.'s holdings in Home Depot were worth $6,447,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HD. Legend Financial Advisors Inc. acquired a new position in Home Depot in the 2nd quarter worth about $28,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after acquiring an additional 46 shares in the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of Home Depot during the 2nd quarter worth about $40,000. Finally, Compass Financial Services Inc bought a new stake in shares of Home Depot during the 1st quarter worth about $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $394.88 on Friday. The business has a 50 day moving average price of $402.63 and a 200 day moving average price of $376.21. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a market cap of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company earned $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 disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HD. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Mizuho upped their price target on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Truist Financial upped their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Wells Fargo & Company upped their price target on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $436.40.

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.

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