The Home Depot, Inc. $HD Shares Bought by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services increased its stake in The Home Depot by 12.3%, owning a total of 31,046 shares, which represents 1.6% of its investment portfolio.
• The Home Depot reported $4.68 EPS for Q2, slightly missing analysts' estimates, with a revenue of $45.28 billion, a 4.9% increase year-over-year.
• The company announced a quarterly dividend of $2.30 per share, with an annualized dividend of $9.20 and a yield of 2.2%, set to be paid on September 18th.

Oak Harvest Investment Services lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,046 shares of the home improvement retailer's stock after purchasing an additional 3,389 shares during the period. Home Depot comprises 1.6% of Oak Harvest Investment Services' portfolio, making the stock its 12th largest position. Oak Harvest Investment Services' holdings in Home Depot were worth $11,378,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter worth $29,000. Abound Financial LLC acquired a new position in shares of Home Depot during the first quarter worth $31,000. Quarry LP lifted its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of 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 worth $36,000 after purchasing an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on HD shares. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. DA Davidson reaffirmed a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. 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 report on Wednesday, August 20th. Finally, Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. One investment 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's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Stock Performance

Shares of Home Depot stock traded up $0.65 during trading on Wednesday, hitting $408.19. 2,486,843 shares of the stock were exchanged, compared to its average volume of 3,596,292. The stock's fifty day moving average is $376.81 and its 200 day moving average is $371.24. The stock has a market cap of $406.12 billion, a PE ratio of 27.73, 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. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm's revenue was up 4.9% on a year-over-year basis. 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. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's dividend payout ratio is currently 62.50%.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares in the company, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the stock in a transaction dated 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 owned 24,235 shares of the company's stock, valued at $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 46,532 shares of company stock worth $18,648,987 over the last ninety days. Insiders own 0.10% of the company's stock.

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.