Redwood Investment Management LLC Increases Stake in The Home Depot, Inc. $HD

Key Points

• Redwood Investment Management LLC increased its stake in The Home Depot, Inc. by 56.3%, now holding 3,857 shares valued at approximately $1.4 million.
• Several institutional investors, including Vanguard Group and Asset Planning Services, have significantly boosted their holdings in Home Depot, suggesting strong institutional interest.
• The company's latest earnings report showed an EPS of $4.68, slightly missing analysts' expectations, with a revenue of $45.28 billion, reflecting a 4.9% year-over-year increase.

Redwood Investment Management LLC increased its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 56.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,857 shares of the home improvement retailer's stock after acquiring an additional 1,390 shares during the period. Redwood Investment Management LLC's holdings in Home Depot were worth $1,414,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HD. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after buying an additional 891,326 shares during the period. GAMMA Investing LLC boosted its holdings 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 holdings 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.

Analyst Ratings Changes

Several equities research analysts have commented on HD shares. Robert W. Baird upped their price target on Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Mizuho increased 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, August 20th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Finally, DA Davidson reiterated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $432.52.

Insider Buying and Selling at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president owned 3,837 shares of the company's stock, valued at $1,550,416.59. The trade was a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's 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 owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,532 shares of company stock worth $18,648,987. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of NYSE:HD opened at $407.88 on Wednesday. The business's 50-day simple moving average is $376.81 and its 200 day simple moving average is $371.24. The company has a market cap of $405.81 billion, a P/E ratio of 27.71, a PEG ratio of 3.88 and a beta of 1.00. 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

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 for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter in the prior year, the company earned $4.60 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 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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