The Home Depot, Inc. $HD Shares Acquired by IFP Advisors Inc

Key Points

• IFP Advisors Inc increased its stake in The Home Depot by 20.8%, bringing its holdings to 32,760 shares valued at approximately $12 million at the end of Q2.
• Insider transactions revealed that EVP William D. Bastek and CFO Richard V. Mcphail sold shares totaling over $2.9 million, with Bastek's position decreasing by 13.50% and Mcphail's by 6.90%.
• Home Depot reported a missed EPS estimate for Q2, posting $4.68 compared to the expected $4.69, with revenues slightly below analysts' projections.

IFP Advisors Inc boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,760 shares of the home improvement retailer's stock after purchasing an additional 5,631 shares during the period. IFP Advisors Inc's holdings in Home Depot were worth $12,013,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in Home Depot during the second quarter valued at approximately $28,000. Abound Financial LLC acquired a new stake in Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC lifted its stake 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. Global X Japan Co. Ltd. acquired a new stake in Home Depot during the second quarter valued at approximately $40,000. Finally, GFG Capital LLC acquired a new stake in Home Depot during the second quarter valued at approximately $40,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction 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 transaction, the executive vice president 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the 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 owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% 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 worth $19,623,432 over the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HD. Stifel Nicolaus upped their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Mizuho upped their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. Truist Financial upped their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Weiss Ratings restated a "buy (b)" rating on shares of Home Depot in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $435.42.

Home Depot Stock Down 1.6%

Home Depot stock opened at $377.66 on Friday. The firm has a market cap of $375.92 billion, a PE ratio of 25.66, a P/E/G ratio of 3.64 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. The firm's 50 day moving average price is $403.50 and its two-hundred day moving average price is $376.99. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm's quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot's dividend payout ratio is 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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