MKP Capital Management L.L.C. Makes New $76.63 Million Investment in The Home Depot, Inc. $HD

MKP Capital Management L.L.C. purchased a new position in The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 209,000 shares of the home improvement retailer’s stock, valued at approximately $76,628,000. Home Depot accounts for approximately 3.9% of MKP Capital Management L.L.C.’s investment portfolio, making the stock its 4th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Heritage Wealth Management Inc. boosted its position in shares of Home Depot by 2.3% during the 1st quarter. Heritage Wealth Management Inc. now owns 3,914 shares of the home improvement retailer’s stock valued at $1,434,000 after acquiring an additional 88 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Home Depot by 1.2% during the 1st quarter. TD Private Client Wealth LLC now owns 19,203 shares of the home improvement retailer’s stock valued at $7,038,000 after acquiring an additional 232 shares during the last quarter. YANKCOM Partnership boosted its position in shares of Home Depot by 1.5% during the 1st quarter. YANKCOM Partnership now owns 2,368 shares of the home improvement retailer’s stock valued at $868,000 after acquiring an additional 34 shares during the last quarter. Finally, Financial Counselors Inc. boosted its position in shares of Home Depot by 1.5% during the 1st quarter. Financial Counselors Inc. now owns 143,048 shares of the home improvement retailer’s stock valued at $52,426,000 after acquiring an additional 2,089 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Down 0.3%

Shares of HD opened at $378.29 on Tuesday. 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 has a fifty day moving average of $399.96 and a 200 day moving average of $381.04. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market cap of $376.55 billion, a PE ratio of 25.70, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share 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 business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the business earned $4.60 EPS. 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. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders 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 dividend payout ratio (DPR) is presently 62.50%.

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 sale, the chief financial officer owned 45,455 shares in the company, valued at $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on HD shares. Wolfe Research started coverage on Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price for the company. Morgan Stanley raised their price target on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus raised their price target on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a research report on Monday, August 18th. Wells Fargo & Company raised their price target on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Mizuho raised their price target on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $434.35.

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.