Swedbank AB Grows Position in The Home Depot, Inc. $HD

Key Points

• Swedbank AB increased its stake in The Home Depot by 12.1%, acquiring an additional 130,991 shares, bringing its total ownership to 1,212,868 shares valued at approximately $444.7 million.
• Home Depot's recent quarterly earnings report revealed an EPS of $4.68, slightly below the analyst expectations of $4.69, with a total revenue of $45.28 billion for the quarter.
• The company announced a quarterly dividend of $2.30 per share, set to be paid on September 18th, representing an annualized dividend yield of 2.2% and a payout ratio of 62.5%.

Swedbank AB boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 12.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,212,868 shares of the home improvement retailer's stock after buying an additional 130,991 shares during the period. Swedbank AB owned approximately 0.12% of Home Depot worth $444,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alecta Tjanstepension Omsesidigt purchased a new stake in Home Depot in the 2nd quarter valued at about $51,653,000. Secure Asset Management LLC raised its holdings in Home Depot by 5.7% in the 2nd quarter. Secure Asset Management LLC now owns 7,082 shares of the home improvement retailer's stock valued at $2,596,000 after buying an additional 383 shares during the period. Ayrshire Capital Management LLC raised its holdings in Home Depot by 2.8% in the 2nd quarter. Ayrshire Capital Management LLC now owns 16,083 shares of the home improvement retailer's stock valued at $5,897,000 after buying an additional 437 shares during the period. Sunflower Bank N.A. raised its holdings in Home Depot by 1.5% in the 2nd quarter. Sunflower Bank N.A. now owns 2,007 shares of the home improvement retailer's stock valued at $736,000 after buying an additional 29 shares during the period. Finally, Chickasaw Capital Management LLC raised its holdings in Home Depot by 13.7% in the 2nd quarter. Chickasaw Capital Management LLC now owns 1,061 shares of the home improvement retailer's stock valued at $389,000 after buying an additional 128 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Edward P. Decker sold 32,897 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,835 shares of company stock valued at $19,623,432 in the last ninety days. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Performance

HD traded down $1.71 during trading on Friday, reaching $415.77. 6,709,599 shares of the company were exchanged, compared to its average volume of 3,720,799. The stock has a market cap of $413.85 billion, a P/E ratio of 28.25, a PEG ratio of 3.94 and a beta of 1.00. The firm has a 50 day moving average of $394.94 and a 200 day moving average of $373.48. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

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 business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter last year, the firm posted $4.60 EPS. The company's revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued 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 was Thursday, September 4th. Home Depot's dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Home Depot in a research note on Thursday. They set an "outperform" rating and a $497.00 price target on the stock. Mizuho boosted their price target on shares of Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Robert W. Baird boosted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company boosted their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One equities research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.00.

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.