The Home Depot, Inc. $HD Stake Raised by Westchester Capital Management Inc.

Westchester Capital Management Inc. increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,659 shares of the home improvement retailer’s stock after purchasing an additional 339 shares during the quarter. Home Depot makes up approximately 3.3% of Westchester Capital Management Inc.’s portfolio, making the stock its 14th largest position. Westchester Capital Management Inc.’s holdings in Home Depot were worth $14,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Legend Financial Advisors Inc. bought a new position in Home Depot during the second quarter valued at approximately $28,000. Abound Financial LLC bought a new stake in Home Depot in the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC increased its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Finally, GFG Capital LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the subject of a number of analyst reports. Wolfe Research assumed coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Robert W. Baird upped their target price on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $435.42.

Insider Activity

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the completion of 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

Shares of NYSE:HD opened at $379.36 on Tuesday. The firm has a market capitalization of $377.61 billion, a PE ratio of 25.77, a PEG ratio of 3.57 and a beta of 1.00. 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 Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business’s 50 day moving average is $403.51 and its 200-day moving average is $377.45.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS 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 firm had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period last year, the business earned $4.60 earnings per share. The firm’s revenue for the quarter 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. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is 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.