Optas LLC Increases Stock Position in The Home Depot, Inc. $HD

Optas LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the home improvement retailer’s stock after acquiring an additional 120 shares during the period. Optas LLC’s holdings in Home Depot were worth $864,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tower View Wealth Management LLC grew its position in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after buying an additional 671 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Home Depot in the 1st quarter valued at $3,851,000. Shell Asset Management Co. grew its position in Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after buying an additional 15,002 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Home Depot in the 1st quarter valued at $406,000. Finally, Arbor Capital Management Inc. ADV grew its position in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after buying an additional 221 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.8%

NYSE:HD opened at $383.84 on Thursday. The company has a market capitalization of $382.07 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. 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 Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a fifty day simple moving average of $403.30 and a 200-day simple moving average of $376.89.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (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 analyst estimates of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s payout ratio is presently 62.50%.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total value of $1,551,900.09. Following the completion of the transaction, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the transaction, the chief executive officer directly owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HD shares. 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 research report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, August 19th. DA Davidson reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Finally, Oppenheimer raised their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $435.42.

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.