The Home Depot, Inc. $HD Holdings Raised by West Oak Capital LLC

Key Points

• West Oak Capital LLC increased its stake in The Home Depot by 11.8%, owning 10,442 shares valued at approximately $3.83 million as of the end of the second quarter.
• Insider trading activity includes CEO Edward P. Decker selling 32,897 shares for about $13.07 million, resulting in a 21.18% decrease in his ownership.
• Multiple brokerages have raised their price targets for Home Depot, with Truist Financial setting a new target of $433.00 and Wolfe Research starting coverage with a target of $497.00.

West Oak Capital LLC grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,442 shares of the home improvement retailer's stock after acquiring an additional 1,103 shares during the quarter. Home Depot makes up approximately 1.5% of West Oak Capital LLC's holdings, making the stock its 18th largest position. West Oak Capital LLC's holdings in Home Depot were worth $3,828,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in Home Depot during the 1st quarter worth $31,000. Iron Horse Wealth Management LLC grew its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in Home Depot during the 2nd quarter worth $40,000. Compass Financial Services Inc bought a new position in Home Depot during the 1st quarter worth $41,000. Finally, Livelsberger Financial Advisory bought a new position in Home Depot during the 2nd quarter worth $41,000. 70.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the company's stock in a transaction on 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 of the company's stock, valued at $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HD. Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They set an "outperform" rating and a $497.00 price target for the company. DA Davidson reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Mizuho boosted their price target on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $435.60.

Home Depot Trading Down 0.7%

Shares of HD stock opened at $412.86 on Tuesday. The stock has a 50-day simple moving average of $395.79 and a 200 day simple moving average of $373.58. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market capitalization of $410.96 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.94 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

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 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 firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the business earned $4.60 EPS. The company'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 expect 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 announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio (DPR) is currently 62.50%.

Home Depot 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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