Fred Alger Management LLC Has $16.53 Million Stock Position in The Home Depot, Inc. $HD

Key Points

• Fred Alger Management LLC increased its investment in The Home Depot, acquiring an additional 1,595 shares during the first quarter, bringing its total holdings to 45,110 shares valued at approximately $16.5 million.
• Multiple institutional investors, including Vanguard Group Inc. and Charles Schwab Investment Management Inc., also raised their stakes in Home Depot, reflecting a significant confidence in the company.
• Home Depot reported a slight earnings miss in its recent quarter, with earnings per share of $4.68, falling short of analysts' expectations by one cent, while quarterly revenue increased by 4.9% year-over-year.

Fred Alger Management LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,110 shares of the home improvement retailer's stock after purchasing an additional 1,595 shares during the period. Fred Alger Management LLC's holdings in Home Depot were worth $16,532,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HD. Invst LLC lifted its position in shares of Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares during the last quarter. Financial Insights Inc. increased its stake in Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the period. Wayfinding Financial LLC increased its stake in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares during the period. Pure Portfolios Holdings LLC increased its stake in Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after acquiring an additional 28 shares during the period. Finally, First Interstate Bank increased its stake in Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after acquiring an additional 28 shares during the period. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares of the company's stock, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% 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 in the last three months. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. Stifel Nicolaus boosted their price target on Home Depot from $425.00 to $432.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. DA Davidson reiterated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Finally, Truist Financial upped their price objective on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $432.52.

Home Depot Trading Down 0.0%

Shares of HD stock traded down $0.09 during trading hours on Friday, reaching $423.33. The company had a trading volume of 5,003,481 shares, compared to its average volume of 3,572,982. The company has a 50 day moving average of $388.99 and a 200 day moving average of $372.26. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm has a market cap of $421.38 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 3.92 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.

Home Depot (NYSE:HD - Get Free Report) last posted 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 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 business's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

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.