Sax Wealth Advisors LLC Increases Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Sax Wealth Advisors LLC raised its stake in The Home Depot, Inc. by 113.8%, owning 4,788 shares valued at approximately $1,755,000 as of its latest SEC filing.
• Analyst ratings for Home Depot stock vary, with 19 analysts giving a Buy rating and an average price target of $432.52 after multiple firms adjusted their target prices upwards.
• The company recently announced a quarterly dividend of $2.30, with the annualized dividend yielding 2.2% and a payout ratio of 62.5%.

Sax Wealth Advisors LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 113.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,788 shares of the home improvement retailer's stock after purchasing an additional 2,549 shares during the quarter. Sax Wealth Advisors LLC's holdings in Home Depot were worth $1,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. purchased a new position in Home Depot during the 1st quarter worth approximately $406,000. Wealth Management Partners LLC grew its stake in shares of Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV lifted its stake in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after purchasing an additional 221 shares during the period. ARS Wealth Advisors Group LLC lifted its stake in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after purchasing an additional 239 shares during the period. Finally, Tabor Asset Management LP acquired a new position in shares of Home Depot in the 1st quarter valued at $5,886,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE HD traded down $2.55 on Thursday, hitting $405.70. The company had a trading volume of 989,729 shares, compared to its average volume of 3,539,910. The company has a market capitalization of $403.64 billion, a PE ratio of 27.57, a PEG ratio of 3.86 and a beta of 1.00. The company's fifty day moving average price is $378.04 and its 200-day moving average price is $371.50. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its 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 return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the firm earned $4.60 EPS. The company's revenue for the quarter 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. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's payout ratio is 62.50%.

Insider Activity at Home Depot

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares of the company's stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction 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 sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock worth $18,648,987 over the last 90 days. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Royal Bank Of Canada decreased their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Truist Financial boosted their target price 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. JPMorgan Chase & Co. decreased their target price on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Finally, DA Davidson reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. One equities 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $432.52.

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.