The Home Depot, Inc. $HD Stake Raised by Spinnaker Trust

Spinnaker Trust increased its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,685 shares of the home improvement retailer’s stock after acquiring an additional 155 shares during the period. Home Depot comprises about 1.0% of Spinnaker Trust’s holdings, making the stock its 22nd largest holding. Spinnaker Trust’s holdings in Home Depot were worth $16,017,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock worth $35,360,494,000 after acquiring an additional 720,447 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Home Depot by 6.6% in the 1st 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 purchasing an additional 891,326 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $3,391,240,000 after purchasing an additional 1,494,261 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Home Depot by 5.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock worth $3,279,867,000 after purchasing an additional 477,192 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Home Depot by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,480,031 shares of the home improvement retailer’s stock worth $2,374,866,000 after purchasing an additional 778,012 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 2.1%

HD opened at $377.50 on Thursday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. 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 stock has a market capitalization of $375.76 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 3.66 and a beta of 1.00. The business has a 50 day moving average of $401.60 and a 200-day moving average of $380.30.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 business had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the company posted $4.60 earnings per share. The firm’s 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. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling

In related news, EVP Angie Brown sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. This trade represents a 6.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,835 shares of company stock valued at $19,623,432 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Truist Financial upped their target price on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Finally, Wolfe Research assumed coverage on Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $434.35.

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.