Orrstown Financial Services Inc. Boosts Stake in The Home Depot, Inc. $HD

Key Points

• Orrstown Financial Services Inc. increased its stake in The Home Depot by 21.4%, acquiring a total of 5,587 shares valued at approximately $2.05 million, making it the fund's 27th largest holding.
• Several large investors significantly boosted their positions in Home Depot, with Asset Planning Services Inc. LA ADV increasing its stake by nearly 99,400.7% to approximately $6.95 billion.
• Home Depot reported Q2 earnings of $4.68 per share, slightly missing the analyst estimate, and announced a quarterly dividend of $2.30 per share with a 2.2% yield.

Orrstown Financial Services Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 21.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,587 shares of the home improvement retailer's stock after buying an additional 983 shares during the quarter. Home Depot comprises about 0.4% of Orrstown Financial Services Inc.'s investment portfolio, making the stock its 27th biggest holding. Orrstown Financial Services Inc.'s holdings in Home Depot were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. State of Wyoming increased its holdings in shares of Home Depot by 29.1% in the 4th quarter. State of Wyoming now owns 666 shares of the home improvement retailer's stock worth $259,000 after purchasing an additional 150 shares in the last quarter. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Home Depot in the 4th quarter worth $392,000. Finally, Retirement Planning Group LLC NY bought a new stake in shares of Home Depot in the 4th quarter worth $1,227,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

NYSE:HD traded down $1.03 during mid-day trading on Tuesday, hitting $410.97. 1,408,833 shares of the company traded hands, compared to its average volume of 3,588,409. The stock's fifty day moving average price is $395.79 and its 200-day moving average price is $373.58. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The firm has a market cap of $409.07 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 3.94 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $45.43 billion. During the same period in the prior year, the firm posted $4.60 EPS. The business's revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the company. DA Davidson reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Mizuho lifted their target price on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Robert W. Baird lifted their price objective on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Finally, Wolfe Research started coverage on Home Depot in a report on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $435.60.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares in the company, 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 48,835 shares of company stock valued at $19,623,432 in the last ninety days. Company insiders own 0.10% of the company's stock.

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.