Tandem Investment Partners LLC Raises Holdings in The Home Depot, Inc. $HD

Tandem Investment Partners LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 11.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,282 shares of the home improvement retailer’s stock after purchasing an additional 230 shares during the period. Tandem Investment Partners LLC’s holdings in Home Depot were worth $837,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter worth $28,000. Abound Financial LLC purchased a new position in shares of Home Depot in the 1st quarter worth $31,000. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot in the 2nd quarter worth $40,000. Finally, Compass Financial Services Inc purchased a new position in shares of Home Depot in the 1st quarter worth $41,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE:HD opened at $394.88 on Friday. 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 business’s 50-day simple moving average is $402.63 and its two-hundred day simple moving average is $376.37. The stock has a market cap of $393.06 billion, a PE ratio of 26.83, a P/E/G ratio of 3.75 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 results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In other news, EVP William D. Bastek sold 3,783 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at $9,941,924.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HD. Wolfe Research began coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Truist Financial raised their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. decreased their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.40.

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.