The Home Depot, Inc. $HD Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 27.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 76,100 shares of the home improvement retailer’s stock after purchasing an additional 16,200 shares during the period. Home Depot comprises approximately 1.0% of Cornerstone Advisors LLC’s holdings, making the stock its 22nd largest position. Cornerstone Advisors LLC’s holdings in Home Depot were worth $27,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Nuveen LLC acquired a new position in shares of Home Depot in the first quarter valued at approximately $2,076,592,000. Valeo Financial Advisors LLC raised its stake in shares of Home Depot by 16,746.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock worth $1,663,768,000 after buying an additional 4,510,944 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Home Depot by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after buying an additional 1,494,261 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Home Depot in the second quarter valued at approximately $418,486,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock worth $5,282,398,000 after acquiring an additional 891,326 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HD. Truist Financial reduced their target price on Home Depot from $454.00 to $421.00 and set a “buy” rating for the company in a report on Friday, November 7th. Morgan Stanley boosted their price objective 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. Sanford C. Bernstein upped their target price on shares of Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Finally, Oppenheimer boosted 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. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $429.33.

Insider Transactions at Home Depot

In related 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 value of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. This trade represents a 20.67% 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 in the last three months. 0.10% of the stock is currently owned by company insiders.

Home Depot Trading Down 1.6%

Shares of HD opened at $362.08 on Friday. 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 Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market cap of $360.41 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm has a 50 day simple moving average of $393.15 and a 200-day simple moving average of $381.85.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter last year, the company posted $4.60 EPS. Home Depot’s quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities 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 was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio (DPR) 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.