Smart Portfolios LLC Increases Stake in The Home Depot, Inc. $HD

Smart Portfolios LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,162 shares of the home improvement retailer’s stock after purchasing an additional 43 shares during the period. Smart Portfolios LLC’s holdings in Home Depot were worth $793,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Rosenberg Matthew Hamilton increased its stake in Home Depot by 4.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,726 shares of the home improvement retailer’s stock worth $633,000 after purchasing an additional 74 shares during the period. Mutual Advisors LLC grew its position in shares of Home Depot by 5.5% in the 2nd quarter. Mutual Advisors LLC now owns 26,242 shares of the home improvement retailer’s stock worth $9,850,000 after buying an additional 1,370 shares during the last quarter. Tuttle Capital Management LLC grew its position in shares of Home Depot by 14.8% in the 2nd quarter. Tuttle Capital Management LLC now owns 1,581 shares of the home improvement retailer’s stock worth $580,000 after buying an additional 204 shares during the last quarter. Granite Group Advisors LLC grew its position in shares of Home Depot by 0.8% in the 2nd quarter. Granite Group Advisors LLC now owns 6,531 shares of the home improvement retailer’s stock worth $2,395,000 after buying an additional 55 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of Home Depot by 9.0% in the 2nd quarter. Ritholtz Wealth Management now owns 24,753 shares of the home improvement retailer’s stock worth $9,076,000 after buying an additional 2,048 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HD. Oppenheimer lifted their price objective on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Robert W. Baird lifted their price objective 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 reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Mizuho lifted their price objective on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $435.42.

Insider Activity at Home Depot

In other Home Depot news, 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 transaction of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total value of $2,265,740.09. Following the transaction, the executive vice president owned 16,057 shares of the company’s stock, valued at $6,635,234.11. The trade was a 25.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.2%

NYSE HD opened at $388.49 on Thursday. 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 Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a market capitalization of $386.70 billion, a PE ratio of 26.39, a P/E/G ratio of 3.68 and a beta of 1.00. The stock’s 50 day moving average is $403.59 and its 200 day moving average is $377.59.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the prior year, the firm earned $4.60 earnings per share. The company’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. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 2.4%. Home Depot’s payout ratio is currently 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.