RiverFront Investment Group LLC Increases Stake in The Home Depot, Inc. $HD

RiverFront Investment Group LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 40.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,438 shares of the home improvement retailer’s stock after acquiring an additional 2,451 shares during the period. RiverFront Investment Group LLC’s holdings in Home Depot were worth $3,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Legend Financial Advisors Inc. purchased a new position in Home Depot in the 2nd quarter worth $28,000. LFA Lugano Financial Advisors SA bought a new position in shares of Home Depot during the second quarter valued at approximately $32,000. Legacy Investment Solutions LLC purchased a new position in Home Depot in the second quarter worth about $35,000. Global X Japan Co. Ltd. purchased a new stake in Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC purchased a new position in Home Depot in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.9%

Home Depot stock opened at $336.93 on Tuesday. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The business has a fifty day moving average price of $383.62 and a 200-day moving average price of $381.09. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market capitalization of $335.37 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, December 4th. Home Depot’s payout ratio is presently 62.71%.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Oppenheimer raised their price target on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research note on Thursday, September 25th. JPMorgan Chase & Co. lowered their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home Depot in a report on Wednesday, November 19th. HSBC dropped their target price on shares of Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a research report on Wednesday, November 19th. Finally, Robert W. Baird cut their target price on shares of Home Depot from $450.00 to $415.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Twenty-one analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $409.72.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 24,235 shares in the company, valued at $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.10% of the company’s stock.

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.