Northwestern Mutual Wealth Management Co. Buys 79,240 Shares of The Home Depot, Inc. $HD

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in The Home Depot by 26.5%, acquiring an additional 79,240 shares, bringing its total holdings to 377,889 shares valued at $138.49 million.
• Home Depot's stock currently has a consensus rating of "Moderate Buy" from analysts, with a price target of approximately $432.52.
• Home Depot announced a quarterly dividend of $2.30 per share, with an annualized yield of 2.2%, to be paid on September 18th to investors of record on September 4th.

Northwestern Mutual Wealth Management Co. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,889 shares of the home improvement retailer's stock after purchasing an additional 79,240 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Home Depot were worth $138,492,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Navigoe LLC bought a new stake in shares of Home Depot during the 4th quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its holdings 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 valued at $36,000 after purchasing an additional 46 shares during the last quarter. Quarry LP grew its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Securities downgraded shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Morgan Stanley lifted their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho lifted their target price on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Royal Bank Of Canada dropped their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $432.52.

Home Depot Stock Up 3.8%

Home Depot stock opened at $412.9960 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.15 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 firm's fifty day moving average is $374.52 and its 200 day moving average is $371.57. The company has a market capitalization of $410.90 billion, a PE ratio of 28.06, a PEG ratio of 3.77 and a beta of 1.00.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's payout ratio is presently 62.50%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,672 shares of company stock worth $16,827,675 over the last quarter. 0.10% of the stock is currently 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.

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