Panagora Asset Management Inc. Grows Stake in The Home Depot, Inc. $HD

Key Points

• Panagora Asset Management Inc. increased its stake in The Home Depot by 10.4%, owning 47,544 shares now valued at approximately $17.42 million.
• Several institutional investors also raised their positions in Home Depot, with Vanguard increasing its stake by 0.8% and Asset Planning Services boosting it by an impressive 99,400.7%.
• The Home Depot recently announced a quarterly dividend of $2.30 per share, representing a 2.3% dividend yield with a payout ratio of 62.50%.

Panagora Asset Management Inc. raised its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,544 shares of the home improvement retailer's stock after acquiring an additional 4,482 shares during the quarter. Panagora Asset Management Inc.'s holdings in Home Depot were worth $17,424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after acquiring an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 99,400.7% in the first 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 acquiring an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the first 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 acquiring an additional 891,326 shares during the last quarter. GAMMA Investing LLC boosted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 19.3% in the first 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 acquiring an additional 1,494,261 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Home Depot stock opened at $407.04 on Friday. The firm's 50 day simple moving average is $380.40 and its 200 day simple moving average is $371.14. 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 firm has a market capitalization of $405.16 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 3.86 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business's revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio is presently 62.50%.

Insider Transactions at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,532 shares of company stock worth $18,648,987. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HD shares. Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Truist Financial upped their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Guggenheim restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, DA Davidson restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. One investment 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Company Profile

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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