LGT Fund Management Co Ltd. Has $6.45 Million Holdings in The Home Depot, Inc. $HD

LGT Fund Management Co Ltd. lifted its stake in The Home Depot, Inc. (NYSE:HD) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 17,584 shares of the home improvement retailer’s stock after buying an additional 947 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Home Depot were worth $6,447,000 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 raised its holdings in shares of 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 worth $5,938,000 after buying an additional 671 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Home Depot in the 1st quarter worth approximately $3,851,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Home Depot in the 1st quarter worth approximately $406,000. Arbor Capital Management Inc. ADV raised its holdings in shares of 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 worth $1,757,000 after buying an additional 221 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of Home Depot by 4.1% in the 1st quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock worth $155,131,000 after buying an additional 16,654 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $394.88 on Friday. The business’s 50-day simple moving average is $402.63 and its 200 day simple moving average is $376.21. 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 stock has a market cap of $393.06 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.75 and a beta of 1.00. 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 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 net margin of 8.86% and a return on equity of 193.99%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot’s payout ratio is currently 62.50%.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP William D. Bastek sold 2,303 shares of Home Depot 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 sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock worth $19,623,432 over the last 90 days. Insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HD shares. Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th. Truist Financial raised their price target on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. DA Davidson reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Oppenheimer raised their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $436.40.

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.