Magnetar Financial LLC Buys Shares of 19,543 The Home Depot, Inc. $HD

Key Points

• Magnetar Financial LLC acquired a new position in The Home Depot, purchasing 19,543 shares valued at approximately $7.16 million.
• Home Depot reported a quarterly earnings miss of $4.68 per share, slightly below analysts' expectations of $4.69, with revenues also falling short at $45.28 billion.
• Insider transactions include CFO Richard V. Mcphail selling 3,369 shares for about $1.36 million, indicating a 6.90% decrease in his position.

Magnetar Financial LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,543 shares of the home improvement retailer's stock, valued at approximately $7,162,000.

A number of other institutional investors have also recently made changes to their positions in the business. Driehaus Capital Management LLC bought a new position in shares of Home Depot in the 1st quarter valued at about $671,000. WPG Advisers LLC bought a new position in shares of Home Depot in the 1st quarter valued at about $157,000. State of Wyoming lifted its holdings in shares of Home Depot by 45.8% in the 1st quarter. State of Wyoming now owns 971 shares of the home improvement retailer's stock valued at $356,000 after acquiring an additional 305 shares during the last quarter. TD Capital Management LLC lifted its holdings in shares of Home Depot by 30.3% in the 1st quarter. TD Capital Management LLC now owns 666 shares of the home improvement retailer's stock valued at $244,000 after acquiring an additional 155 shares during the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of Home Depot by 509.1% in the 1st quarter. Trexquant Investment LP now owns 104,458 shares of the home improvement retailer's stock valued at $38,283,000 after acquiring an additional 87,308 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Stifel Nicolaus raised their price objective 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. Gordon Haskett raised their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. One research 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Trading Down 0.1%

Shares of NYSE:HD traded down $0.41 during trading on Monday, reaching $407.04. 2,210,294 shares of the company were exchanged, compared to its average volume of 3,573,280. The firm has a market capitalization of $405.16 billion, a PE ratio of 27.65, a P/E/G ratio of 3.86 and a beta of 1.00. The business's fifty day simple moving average is $380.40 and its 200-day simple moving average is $370.85. 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 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results 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 company had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president directly owned 3,837 shares of the company's stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock valued at $18,648,987 over the last quarter. 0.10% of the stock is owned by insiders.

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.