Spectrum Planning & Advisory Services Inc. Invests $486,000 in The Home Depot, Inc. $HD

Key Points

• Spectrum Planning & Advisory Services Inc. has invested approximately $486,000 in The Home Depot, acquiring 1,324 shares in the 2nd quarter.
• Home Depot recently reported $4.68 earnings per share, missing the consensus estimate by one cent, alongside a revenue of $45.28 billion for the quarter.
• The company declared a quarterly dividend of $2.30 per share, with an annualized yield of 2.2%, and its dividend payout ratio is currently 62.50%.

Spectrum Planning & Advisory Services Inc. acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,324 shares of the home improvement retailer's stock, valued at approximately $486,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Client 1ST Advisory Group LLC boosted its position in Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer's stock valued at $688,000 after purchasing an additional 27 shares during the last quarter. Financial Insights Inc. boosted its position in Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after purchasing an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its position in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC boosted its position in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its position in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on HD shares. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. reduced their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Morgan Stanley upped their price objective on Home Depot from $415.00 to $430.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. DA Davidson restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Mizuho upped their price objective on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $437.08.

Home Depot Stock Performance

NYSE:HD opened at $409.77 on Thursday. The stock has a market cap of $407.88 billion, a P/E ratio of 27.84, a PEG ratio of 3.90 and a beta of 1.00. The stock has a 50 day simple moving average of $397.87 and a 200 day simple moving average of $374.09. 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 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 released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.60 earnings per share. 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 year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Home Depot

In related news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the sale, the executive vice president directly owned 3,837 shares of the company's stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last 90 days. Company insiders own 0.10% of the company's stock.

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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