Adage Capital Partners GP L.L.C. Grows Stake in The Home Depot, Inc. $HD

Adage Capital Partners GP L.L.C. lifted its position in The Home Depot, Inc. (NYSE:HD) by 19.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,217,756 shares of the home improvement retailer’s stock after purchasing an additional 198,562 shares during the quarter. Home Depot comprises approximately 0.8% of Adage Capital Partners GP L.L.C.’s portfolio, making the stock its 17th largest holding. Adage Capital Partners GP L.L.C.’s holdings in Home Depot were worth $446,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Invst LLC raised its holdings in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. grew its holdings in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Wayfinding Financial LLC increased its position in shares of Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after purchasing an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC raised its stake in Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares in the last quarter. Finally, First Interstate Bank raised its stake in Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented 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. Morgan Stanley lifted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. TD Securities downgraded Home Depot to a “buy” rating in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. One equities research 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 company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $432.52.

Home Depot Price Performance

HD stock opened at $407.04 on Tuesday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm’s fifty day moving average is $381.41 and its 200 day moving average is $370.83. The firm has a market cap of $405.16 billion, a P/E ratio of 27.65, a P/E/G ratio of 3.86 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the firm earned $4.60 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business 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 dividend of $2.30 per share. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angie Brown sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the completion of the sale, the executive vice president owned 3,837 shares of the company’s stock, 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 sold 46,532 shares of company stock worth $18,648,987 over the last quarter. Company 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.