Cinctive Capital Management LP Increases Stock Holdings in The Home Depot, Inc. $HD

Cinctive Capital Management LP increased its stake in The Home Depot, Inc. (NYSE:HD) by 238.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,354 shares of the home improvement retailer’s stock after purchasing an additional 42,522 shares during the period. Home Depot makes up approximately 1.7% of Cinctive Capital Management LP’s portfolio, making the stock its 9th biggest holding. Cinctive Capital Management LP’s holdings in Home Depot were worth $22,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HD. Vanguard Group Inc. grew its stake in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock worth $35,360,494,000 after buying an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 99,400.7% in the first 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the first 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 buying an additional 891,326 shares in the last quarter. GAMMA Investing LLC boosted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Home Depot by 19.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction 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 transaction, the chief financial officer owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,532 shares of company stock valued at $18,648,987 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $407.06 on Thursday. The business has a 50 day moving average of $383.23 and a 200 day moving average of $371.33. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The company has a market cap of $405.18 billion, a PE ratio of 27.65, a P/E/G ratio of 3.86 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 posted 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). The firm 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%.Home Depot’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 dividend on an annualized basis and a yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

Wall Street Analyst Weigh In

HD has been the subject of a number of analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. DA Davidson reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. Wells Fargo & Company increased their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a research note on Wednesday, August 20th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.