NFJ Investment Group LLC Grows Position in The Home Depot, Inc. $HD

Key Points

• NFJ Investment Group LLC increased its stake in The Home Depot by 38.3%, acquiring an additional 24,004 shares, bringing their total ownership to 86,667 shares valued at $31.76 million.
• Insider transactions include William D. Bastek selling 3,783 shares and Angie Brown selling 1,000 shares, indicating a significant decrease in their ownership of the stock.
• Analysts have adjusted their price targets for Home Depot, with Morgan Stanley raising it to $430, while other firms like Jefferies and JPMorgan have set lower targets, reflecting varied outlooks on the stock's performance.

NFJ Investment Group LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,667 shares of the home improvement retailer's stock after purchasing an additional 24,004 shares during the quarter. Home Depot accounts for 1.1% of NFJ Investment Group LLC's investment portfolio, making the stock its 28th biggest holding. NFJ Investment Group LLC's holdings in Home Depot were worth $31,763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Abound Financial LLC bought a new stake in Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the period. Quest 10 Wealth Builders Inc. lifted its stake in Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the period. Spurstone Advisory Services LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $45,000. Finally, Vega Investment Solutions acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $46,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD traded up $1.25 during trading hours on Monday, hitting $420.20. The company's stock had a trading volume of 3,740,170 shares, compared to its average volume of 3,709,986. 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 Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market cap of $418.26 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 3.97 and a beta of 1.00. The business's 50-day moving average price is $386.27 and its 200-day moving average price is $371.38.

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 analysts' consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent research reports. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Jefferies Financial Group lowered their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Stifel Nicolaus upped their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Robert W. Baird boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $432.52.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the transaction, the executive vice president directly owned 3,837 shares in the company, valued at approximately $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock worth $18,648,987 over the last 90 days. 0.10% of the stock is owned by insiders.

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.