T. Rowe Price Investment Management Inc. Buys New Shares in The Home Depot, Inc. $HD

Key Points

• T. Rowe Price Investment Management has acquired 1,308 shares of The Home Depot, valued at approximately $480,000, according to their latest 13F filing with the SEC.
• Home Depot reported earnings of $4.68 per share for the last quarter, slightly below the consensus estimate of $4.69, with revenues of $45.28 billion.
• The company declared a quarterly dividend of $2.30, resulting in an annualized dividend of $9.20, which represents a yield of 2.2%.

T. Rowe Price Investment Management Inc. purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,308 shares of the home improvement retailer's stock, valued at approximately $480,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Navigoe LLC bought a new position in Home Depot in the 4th quarter valued at about $29,000. Abound Financial LLC acquired a new position in Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares during the last quarter. Quarry LP grew its holdings in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the period. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD traded down $0.41 during mid-day trading on Friday, hitting $407.04. The stock had a trading volume of 2,210,294 shares, compared to its average volume of 3,613,161. The firm has a market cap of $405.16 billion, a P/E ratio of 27.65, a PEG ratio of 3.86 and a beta of 1.00. The business has a fifty day moving average price of $380.40 and a 200-day moving average price of $371.39. 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 52 week low of $326.31 and a 52 week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion during the quarter, compared to analysts' expectations of $45.43 billion. During the same quarter last year, the firm posted $4.60 earnings per share. Home Depot'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. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio is currently 62.50%.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the sale, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president 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 disclosure for this sale can be found here. Insiders sold a total of 46,532 shares of company stock worth $18,648,987 over the last three months. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HD shares. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Royal Bank Of Canada cut their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus upped their target price on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, 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.