Allstate Corp Boosts Stock Position in The Home Depot, Inc. $HD

Key Points

• Allstate Corp increased its stake in The Home Depot by 20.0%, now holding 35,403 shares valued at approximately $12.97 million.
• Several analysts have raised their price targets for Home Depot, with Wells Fargo setting a new target of $450.00 and maintaining an "overweight" rating on the stock.
• Insider selling occurred as EVP Teresa Wynn Roseborough sold 5,406 shares, decreasing her ownership by 23.74% after a transaction valued at nearly $2 million.

Allstate Corp grew its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,403 shares of the home improvement retailer's stock after buying an additional 5,905 shares during the period. Allstate Corp's holdings in Home Depot were worth $12,975,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HD. Invst LLC raised its position in Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares during the last quarter. Financial Insights Inc. raised its position in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after purchasing an additional 28 shares during the last quarter. Wayfinding Financial LLC raised its position in Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC raised its position in Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the last quarter. Finally, First Interstate Bank raised its position in Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Ratings Changes

HD has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Robert W. Baird boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $432.52.

Insider Transactions at Home Depot

In other news, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on 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 transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,672 shares of company stock worth $16,827,675. Corporate insiders own 0.10% of the company's stock.

Home Depot Price Performance

Shares of NYSE HD traded up $15.2960 during trading on Friday, hitting $412.9960. 5,283,627 shares of the company were exchanged, compared to its average volume of 3,607,990. The company has a market cap of $410.90 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 3.91 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm's fifty day moving average price is $374.52 and its 200 day moving average price is $370.97. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $4.60 EPS. 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 Announces Dividend

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 paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's 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.