Cullen Frost Bankers Inc. Grows Holdings in The Home Depot, Inc. $HD

Cullen Frost Bankers Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,000 shares of the home improvement retailer’s stock after buying an additional 2,588 shares during the period. Home Depot comprises approximately 1.0% of Cullen Frost Bankers Inc.’s holdings, making the stock its 26th biggest holding. Cullen Frost Bankers Inc.’s holdings in Home Depot were worth $77,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV purchased a new stake in Home Depot during the 2nd quarter worth $263,000. WealthPlan Investment Management LLC purchased a new stake in Home Depot during the 2nd quarter worth $1,149,000. Tower View Wealth Management LLC increased its stake in Home Depot by 4.3% during 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 during the period. Ransom Advisory Ltd purchased a new stake in Home Depot during the 1st quarter worth $3,851,000. Finally, Shell Asset Management Co. increased its position in shares of Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock worth $17,663,000 after purchasing an additional 15,002 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.5%

NYSE HD opened at $390.99 on Wednesday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a 50-day simple moving average of $403.62 and a 200-day simple moving average of $378.45. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The firm has a market capitalization of $389.19 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly 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 net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the firm posted $4.60 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities analysts forecast 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 issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Truist Financial boosted their target price on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. DA Davidson reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $435.42.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Home Depot Company 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.