Wealth Enhancement Advisory Services LLC Raises Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Home Depot by 5.0%, holding 628,710 shares valued at approximately $233.68 million as of the latest SEC filing.
• Several institutional investors have also raised their positions in Home Depot, contributing to a total ownership of 70.86% of the company's stock by such investors and hedge funds.
• Wall Street analysts predict strong growth for Home Depot, with target price upgrades from multiple firms, resulting in a consensus target price of $435.00 and an overall rating of "Moderate Buy."

Wealth Enhancement Advisory Services LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,710 shares of the home improvement retailer's stock after purchasing an additional 29,725 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Home Depot worth $233,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after purchasing an additional 891,326 shares during the period. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock worth $3,391,240,000 after acquiring an additional 1,494,261 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HD shares. 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 report on Wednesday, August 20th. Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Morgan Stanley lifted their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased 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. Finally, Wolfe Research started coverage on shares of Home Depot in a research note on Thursday. They issued an "outperform" rating and a $497.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.00.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 32,897 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares of the company's stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William D. Bastek sold 2,303 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 in the last quarter. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE HD traded down $3.34 during midday trading on Monday, hitting $412.35. The company had a trading volume of 740,166 shares, compared to its average volume of 3,589,714. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $410.45 billion, a price-to-earnings ratio of 28.00, a P/E/G ratio of 3.94 and a beta of 1.00. The firm has a fifty day simple moving average of $394.94 and a two-hundred day simple moving average of $373.33. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last announced its 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 the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company's revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is 62.50%.

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.