Woodline Partners LP Purchases 24,273 Shares of The Home Depot, Inc. $HD

Key Points

• Woodline Partners LP increased its stake in The Home Depot, Inc. by 40.7% during the first quarter, acquiring 24,273 shares and bringing its total holdings to 83,924 shares, valued at approximately $30.76 million.
• Home Depot's recent quarterly earnings report showed a $4.68 EPS, slightly below analysts' expectations, with revenue of $45.28 billion for the quarter.
• The company announced a quarterly dividend of $2.30 per share, with a payment date of September 18th, representing an annualized yield of 2.2%.

Woodline Partners LP lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 40.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,924 shares of the home improvement retailer's stock after acquiring an additional 24,273 shares during the period. Woodline Partners LP's holdings in Home Depot were worth $30,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the first quarter valued at approximately $406,000. Wealth Management Partners LLC grew its position in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV grew its position in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares during the period. ARS Wealth Advisors Group LLC grew its position in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares during the period. Finally, Tabor Asset Management LP bought a new stake in Home Depot in the 1st quarter worth approximately $5,886,000. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on HD. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Jefferies Financial Group cut their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average price target of $432.52.

Home Depot Trading Down 1.1%

Shares of HD stock opened at $415.53 on Wednesday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a fifty day moving average price of $387.12 and a 200-day moving average price of $371.68. 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 company has a market cap of $413.61 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 3.98 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the previous year, the firm earned $4.60 EPS. The company's 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. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president owned 16,057 shares of the company's stock, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Angie Brown sold 1,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of the transaction, the executive vice president directly owned 3,837 shares of the company's stock, valued at $1,550,416.59. This represents 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. Corporate insiders own 0.10% of the company's stock.

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.

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