Narwhal Capital Management Increases Stock Position in The Home Depot, Inc. $HD

Key Points

• Narwhal Capital Management increased its stake in The Home Depot, Inc. by 12.8% during the second quarter, owning 66,967 shares worth approximately $24.55 million.
• Several institutional investors have also adjusted their positions in Home Depot, with notable increases from Shell Asset Management by 45.2% and Tower View Wealth Management by 4.3% during the second quarter.
• Home Depot reported earnings of $4.68 per share for the last quarter, slightly missing analyst expectations, and has declared a quarterly dividend of $2.30, representing a yield of 2.4%.

Narwhal Capital Management raised its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,967 shares of the home improvement retailer's stock after purchasing an additional 7,603 shares during the quarter. Home Depot accounts for about 2.0% of Narwhal Capital Management's holdings, making the stock its 11th biggest position. Narwhal Capital Management's holdings in Home Depot were worth $24,553,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Tower View Wealth Management LLC lifted its position in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock valued at $5,938,000 after acquiring an additional 671 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $3,851,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $406,000. Shell Asset Management Co. lifted its position in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer's stock valued at $17,663,000 after acquiring an additional 15,002 shares during the period. Finally, Arbor Capital Management Inc. ADV lifted its position in shares of Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after acquiring an additional 221 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares of the company's stock, valued at $6,635,234.11. This trade represents a 25.45% 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 in the last three months. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HD. Truist Financial lifted their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Morgan Stanley lifted their price objective on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, DA Davidson restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $435.42.

Home Depot Trading Down 0.8%

Shares of HD opened at $383.84 on Thursday. The stock has a fifty day moving average of $403.30 and a two-hundred day moving average of $376.89. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The company has a market capitalization of $382.07 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's payout ratio is 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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