Marietta Wealth Management LLC Raises Holdings in The Home Depot, Inc. $HD

Key Points

• Marietta Wealth Management LLC increased its holdings in The Home Depot, Inc. by 3.4% during Q2, now owning 31,075 shares valued at approximately $11.39 million.
• Several institutional investors, including Asset Planning Services and Price T Rowe Associates, significantly raised their stakes in Home Depot, indicating strong institutional interest with over 70% of the stock owned by institutions.
• Home Depot reported a quarterly EPS of $4.68, slightly below analysts' expectations, while also announcing a dividend of $2.30 per share with a yield of 2.3%.

Marietta Wealth Management LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,075 shares of the home improvement retailer's stock after buying an additional 1,009 shares during the period. Home Depot accounts for 1.5% of Marietta Wealth Management LLC's investment portfolio, making the stock its 20th largest position. Marietta Wealth Management LLC's holdings in Home Depot were worth $11,393,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Planning Services Inc. LA ADV raised its stake in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Nuveen LLC bought a new stake in shares of Home Depot during the 1st quarter valued at $2,076,592,000. Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at $418,486,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HD. Robert W. Baird boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Morgan Stanley upped their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Wolfe Research initiated coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price objective on the stock. Finally, Oppenheimer upped their price objective on shares of Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a research report on Thursday, September 25th. One equities research 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $436.40.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares of the company's stock, valued at $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 over the last three months. Corporate insiders own 0.10% of the company's stock.

Home Depot Price Performance

HD opened at $394.88 on Friday. The stock has a 50-day moving average price of $402.63 and a 200-day moving average price of $376.37. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The stock has a market capitalization of $393.06 billion, a P/E ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00.

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 (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the previous year, the company posted $4.60 earnings per share. 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. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

About Home Depot

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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