The Home Depot, Inc. $HD Shares Purchased by Proffitt & Goodson Inc.

Proffitt & Goodson Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 33.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 512 shares of the home improvement retailer’s stock after acquiring an additional 128 shares during the period. Proffitt & Goodson Inc.’s holdings in Home Depot were worth $188,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HD. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot during the second quarter valued at about $28,000. Abound Financial LLC acquired a new stake in shares of Home Depot during the first quarter valued at about $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 46 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of Home Depot during the second quarter valued at about $40,000. Finally, Compass Financial Services Inc acquired a new stake in shares of Home Depot during the first quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HD shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Robert W. Baird lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective for the company. Finally, Oppenheimer lifted their price objective on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.40.

Home Depot Stock Down 0.6%

Shares of Home Depot stock opened at $386.84 on Wednesday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a 50 day moving average of $403.07 and a 200 day moving average of $376.85. 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 capitalization of $385.06 billion, a P/E ratio of 26.28, a P/E/G ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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 return on equity of 193.99% and a net margin of 8.86%.The firm had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. This represents a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

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.