The Home Depot, Inc. $HD Shares Bought by Carmel Capital Partners LLC

Key Points

• Carmel Capital Partners LLC has increased its holdings in The Home Depot by 2.1%, now owning 81,034 shares valued at approximately $29.71 million, making it the firm's second largest investment.
• Several analysts have raised their target prices for Home Depot stock, with Stifel Nicolaus and Wells Fargo setting new targets of $432.00 and $450.00, respectively, promoting a generally positive outlook with a consensus rating of Moderate Buy.
• The Home Depot recently reported quarterly earnings of $4.68 per share, slightly missing estimates, along with announcing a quarterly dividend of $2.30 per share, reflecting a 2.4% yield.

Carmel Capital Partners LLC raised its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 81,034 shares of the home improvement retailer's stock after acquiring an additional 1,653 shares during the period. Home Depot makes up 10.4% of Carmel Capital Partners LLC's investment portfolio, making the stock its 2nd largest holding. Carmel Capital Partners LLC's holdings in Home Depot were worth $29,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC increased its holdings in Home Depot by 0.9% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 537,241 shares of the home improvement retailer's stock valued at $196,974,000 after acquiring an additional 4,784 shares in the last quarter. Arista Wealth Management LLC purchased a new position in Home Depot during the 2nd quarter valued at about $2,411,000. Stratos Wealth Partners LTD. increased its holdings in Home Depot by 2.2% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 104,844 shares of the home improvement retailer's stock valued at $38,440,000 after acquiring an additional 2,220 shares in the last quarter. Private Trust Co. NA increased its holdings in Home Depot by 1.0% during the 2nd quarter. Private Trust Co. NA now owns 17,815 shares of the home improvement retailer's stock valued at $6,532,000 after acquiring an additional 172 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in Home Depot by 2.8% during the 2nd quarter. Angeles Wealth Management LLC now owns 12,596 shares of the home improvement retailer's stock valued at $4,618,000 after acquiring an additional 341 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HD shares. Stifel Nicolaus raised their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a report on Monday, August 18th. DA Davidson reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial lifted their price target on shares of Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Wells Fargo & Company lifted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average target price of $435.42.

Home Depot Trading Down 0.2%

Shares of HD stock opened at $387.40 on Friday. The stock has a market cap of $385.61 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm's 50 day moving average price is $403.62 and its two-hundred day moving average price is $377.73.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion for 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 company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot's payout ratio is presently 62.50%.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the business's 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 directly owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

About Home Depot

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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