Simplicity Wealth LLC Purchases 10,581 Shares of The Home Depot, Inc. $HD

Key Points

• Simplicity Wealth LLC increased its holdings in The Home Depot by 84.5%, acquiring an additional 10,581 shares, bringing its total to 23,099 shares, worth approximately $8.47 million.
• Multiple research firms, including Mizuho and Wells Fargo, have raised their price targets for Home Depot to $450, reflecting a positive outlook on the company's performance.
• Insider transactions included the sale of shares by executives, with EVP Teresa Wynn Roseborough selling 5,483 shares for over $2.26 million, indicating significant trading activity within the company's management.

Simplicity Wealth LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 84.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,099 shares of the home improvement retailer's stock after purchasing an additional 10,581 shares during the period. Simplicity Wealth LLC's holdings in Home Depot were worth $8,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Tower View Wealth Management LLC raised its position in shares of Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer's stock worth $5,938,000 after acquiring an additional 671 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Home Depot in the 1st quarter worth $3,851,000. Financial Gravity Asset Management Inc. bought a new position in shares of Home Depot in the 1st quarter worth $406,000. Arbor Capital Management Inc. ADV raised its position 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 worth $1,757,000 after acquiring an additional 221 shares in the last quarter. Finally, Focus Partners Wealth increased its position in Home Depot by 4.1% during the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer's stock valued at $155,131,000 after buying an additional 16,654 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a "buy (b)" rating on shares of Home Depot in a research note on Saturday, September 27th. Wells Fargo & Company boosted their price target on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. DA Davidson reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Morgan Stanley boosted their price target on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $436.40.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company'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 completion of the transaction, the executive vice president owned 16,057 shares of the company's stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company's stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by insiders.

Home Depot Stock Down 0.0%

Shares of HD opened at $394.88 on Friday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week 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 company has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The stock's 50-day moving average price is $402.63 and its 200-day moving average price is $376.37.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS 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 previous year, the company earned $4.60 EPS. The firm's quarterly 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 predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was 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%.

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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