SouthState Corp Boosts Holdings in The Home Depot, Inc. $HD

SouthState Corp grew its position in The Home Depot, Inc. (NYSE:HD) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 58,785 shares of the home improvement retailer’s stock after purchasing an additional 853 shares during the period. Home Depot accounts for 0.9% of SouthState Corp’s holdings, making the stock its 29th largest position. SouthState Corp’s holdings in Home Depot were worth $21,553,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HD. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $28,000. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. GFG Capital LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Finally, Nexus Investment Management ULC purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Wolfe Research began coverage on shares of Home Depot in a report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Finally, Robert W. Baird upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $435.00.

Home Depot Price Performance

Home Depot stock opened at $374.15 on Thursday. The firm has a market cap of $372.42 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. 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’s 50 day moving average is $398.78 and its two-hundred day moving average is $381.19.

Home Depot (NYSE:HD) last released its 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). The business 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%.Home Depot’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 issued a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.5%. Home Depot’s dividend payout ratio is 62.50%.

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.