The Home Depot, Inc. $HD is NovaPoint Capital LLC's 5th Largest Position

Key Points

• NovaPoint Capital LLC has increased its stake in The Home Depot, owning 32,394 shares after a 3.8% increase, making it the 5th largest position in their portfolio.
• Home Depot's quarterly revenue reached $45.28 billion, which was below analysts' expectations, reporting an EPS of $4.68, missing the consensus estimate by $0.01.
• The company announced a quarterly dividend of $2.30 per share, reflecting an annual yield of 2.2% and a payout ratio of 62.50%.

NovaPoint Capital LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,394 shares of the home improvement retailer's stock after buying an additional 1,197 shares during the quarter. Home Depot accounts for 3.6% of NovaPoint Capital LLC's portfolio, making the stock its 5th largest position. NovaPoint Capital LLC's holdings in Home Depot were worth $11,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HD. Brighton Jones LLC lifted its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Versant Capital Management Inc lifted its stake in Home Depot by 25.5% during the first quarter. Versant Capital Management Inc now owns 8,219 shares of the home improvement retailer's stock valued at $3,012,000 after buying an additional 1,672 shares in the last quarter. Legacy Private Trust Co. lifted its stake in Home Depot by 21.4% during the first quarter. Legacy Private Trust Co. now owns 8,217 shares of the home improvement retailer's stock valued at $3,011,000 after buying an additional 1,450 shares in the last quarter. Sage Capital Advisors llc lifted its stake in Home Depot by 0.9% during the first quarter. Sage Capital Advisors llc now owns 19,642 shares of the home improvement retailer's stock valued at $7,199,000 after buying an additional 176 shares in the last quarter. Finally, Webster Bank N. A. lifted its stake in Home Depot by 0.9% during the first quarter. Webster Bank N. A. now owns 19,838 shares of the home improvement retailer's stock valued at $7,270,000 after buying an additional 175 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, 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 transaction, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This represents a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 in the last ninety days. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on HD. Truist Financial upped their price objective 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Oppenheimer upped their target price on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. One research 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $436.40.

Home Depot Trading Up 0.7%

NYSE:HD opened at $410.16 on Friday. The stock's 50 day moving average price is $399.85 and its 200 day moving average price is $374.61. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market capitalization of $408.27 billion, a P/E ratio of 27.86, a P/E/G ratio of 3.86 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the prior year, the company posted $4.60 EPS. The company's quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot's dividend payout ratio is currently 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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