The Home Depot, Inc. $HD Shares Acquired by Fortis Capital Advisors LLC

Key Points

• Fortis Capital Advisors LLC increased its stake in The Home Depot by 114.0% during the 1st quarter, now owning 4,521 shares valued at approximately $1.66 million.
• Several hedge funds have significantly increased their holdings, with Asset Planning Services Inc. LA ADV boosting its position by over 99,400%, now holding nearly $6.95 billion in shares.
• Home Depot's CFO recently sold 3,369 shares for approximately $1.36 million, reflecting a 6.90% decrease in his ownership of the stock.

Fortis Capital Advisors LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 114.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,521 shares of the home improvement retailer's stock after purchasing an additional 2,408 shares during the period. Fortis Capital Advisors LLC's holdings in Home Depot were worth $1,657,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Nuveen LLC bought a new position in Home Depot during the first quarter worth $2,076,592,000. Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares during the period. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Morgan Stanley raised their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. DA Davidson reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, Truist Financial raised their price target on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $432.52.

Insider Buying and Selling

In other news, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction dated 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 $1,550,416.59. The trade was a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,532 shares of company stock valued at $18,648,987. Company insiders own 0.10% of the company's stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $415.53 on Wednesday. The firm's 50 day moving average is $387.12 and its two-hundred day moving average is $371.68. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market capitalization of $413.61 billion, a P/E ratio of 28.23, a PEG ratio of 3.98 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the prior year, the firm posted $4.60 earnings per share. The business'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. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. 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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