Redwood Investment Management LLC Grows Holdings in The Home Depot, Inc. $HD

Redwood Investment Management LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 56.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,857 shares of the home improvement retailer’s stock after buying an additional 1,390 shares during the period. Redwood Investment Management LLC’s holdings in Home Depot were worth $1,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HD. Invst LLC grew its holdings in Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock worth $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. raised 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 buying an additional 28 shares in the last quarter. Wayfinding Financial LLC lifted its holdings in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after buying an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC lifted its holdings in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock worth $228,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank grew its position in shares of Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after acquiring an additional 28 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD opened at $407.88 on Wednesday. The firm has a 50-day moving average price of $376.81 and a 200 day moving average price of $371.24. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The firm has a market capitalization of $405.81 billion, a PE ratio of 27.71, a P/E/G ratio of 3.88 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for 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%.Home Depot’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the company’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 completion of the sale, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 46,532 shares of company stock valued at $18,648,987. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HD shares. JPMorgan Chase & Co. dropped their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Jefferies Financial Group lowered their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Wells Fargo & Company raised their price target 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. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $432.52.

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.