Los Angeles Capital Management LLC Increases Stock Holdings in The Home Depot, Inc. $HD

Los Angeles Capital Management LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 24.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 46,578 shares of the home improvement retailer’s stock after acquiring an additional 9,288 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Home Depot were worth $17,077,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mainstay Capital Management LLC ADV acquired a new stake in shares of Home Depot in the second quarter valued at approximately $263,000. WealthPlan Investment Management LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $1,149,000. Tower View Wealth Management LLC lifted its stake 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 in the last quarter. Ransom Advisory Ltd acquired a new stake in Home Depot during the 1st quarter valued at $3,851,000. Finally, Shell Asset Management Co. increased its position in Home Depot by 45.2% during the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after buying an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HD. Wolfe Research initiated coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Tuesday, August 19th. Robert W. Baird upped their target price 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. Morgan Stanley lifted their price target on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $434.82.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Up 0.4%

Shares of NYSE:HD opened at $370.71 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The firm has a market cap of $369.00 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 3.59 and a beta of 1.00. The stock’s 50-day moving average price is $397.28 and its two-hundred day moving average price is $381.46. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion for the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 earnings per share. The company’s revenue 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, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. Home Depot’s payout ratio is currently 62.50%.

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.