The Home Depot, Inc. $HD Shares Bought by Three Bridge Wealth Advisors LLC

Key Points

• Three Bridge Wealth Advisors LLC increased its stake in The Home Depot by 37.9% in the second quarter, now holding shares worth about $949,000.
• Analysts have raised their price targets for Home Depot, with Morgan Stanley adjusting its target from $415 to $430 and Wolfe Research setting a new price objective of $497.
• The Home Depot announced a quarterly dividend of $2.30 per share, reflecting a dividend yield of 2.3% and a payout ratio of 62.5%.

Three Bridge Wealth Advisors LLC increased its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 37.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,589 shares of the home improvement retailer's stock after purchasing an additional 712 shares during the period. Three Bridge Wealth Advisors LLC's holdings in Home Depot were worth $949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Brighton Jones LLC increased its position in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after acquiring an additional 7,203 shares during the period. Vest Financial LLC grew its stake in Home Depot by 67.6% during the 1st quarter. Vest Financial LLC now owns 8,062 shares of the home improvement retailer's stock valued at $2,955,000 after purchasing an additional 3,252 shares during the last quarter. Eagle Rock Investment Company LLC grew its stake in Home Depot by 9.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 1,289 shares of the home improvement retailer's stock valued at $472,000 after purchasing an additional 111 shares during the last quarter. Pines Wealth Management LLC grew its stake in Home Depot by 10.0% during the 1st quarter. Pines Wealth Management LLC now owns 3,938 shares of the home improvement retailer's stock valued at $1,320,000 after purchasing an additional 357 shares during the last quarter. Finally, Udine Wealth Management Inc. grew its stake in Home Depot by 6.8% during the 1st quarter. Udine Wealth Management Inc. now owns 5,898 shares of the home improvement retailer's stock valued at $2,162,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Oppenheimer lifted their target price on Home Depot from $400.00 to $420.00 and gave the stock a "market perform" rating in a report on Thursday, September 25th. Weiss Ratings reissued a "buy (b)" rating on shares of Home Depot in a research report on Saturday, September 27th. Morgan Stanley raised their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Finally, Wolfe Research began coverage on shares of Home Depot in a research note on Thursday, September 18th. They issued an "outperform" rating and a $497.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $436.40.

Home Depot Price Performance

Shares of NYSE HD opened at $394.88 on Friday. The stock has a market capitalization of $393.06 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.75 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The firm's 50 day simple moving average is $402.63 and its 200-day simple moving average is $376.37. 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 announced its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same period last year, the company 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 expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm 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. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.50%.

Insider Activity

In other news, EVP William D. Bastek sold 2,303 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following 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 disclosure for this sale can be found here. Over the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.