W.H. Cornerstone Investments Inc. Grows Stake in The Home Depot, Inc. $HD

W.H. Cornerstone Investments Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 17.5% in the second quarter, Holdings Channel.com reports. The fund owned 2,514 shares of the home improvement retailer’s stock after acquiring an additional 375 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Home Depot were worth $922,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mainstay Capital Management LLC ADV purchased a new stake in Home Depot during the second quarter worth $263,000. WealthPlan Investment Management LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $1,149,000. Tower View Wealth Management LLC grew its position in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after acquiring an additional 671 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Home Depot in the first quarter worth $3,851,000. Finally, Shell Asset Management Co. raised its position in 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 valued at $17,663,000 after purchasing an additional 15,002 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Angie Brown sold 1,000 shares of the company’s stock in a transaction 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 directly owned 3,837 shares in the company, valued at $1,550,416.59. This represents a 20.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the completion of the sale, the executive vice president owned 16,057 shares in the company, valued at approximately $6,635,234.11. This represents a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 over the last quarter. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HD shares. Sanford C. Bernstein raised their price target on Home Depot from $403.00 to $406.00 and gave the company a “market perform” rating in a research note on Friday, November 7th. Mizuho boosted their price target on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Thursday. Stifel Nicolaus boosted their price objective on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $433.00.

Home Depot Price Performance

Shares of HD traded up $0.27 during mid-day trading on Thursday, reaching $371.40. 358,453 shares of the company’s stock were exchanged, compared to its average volume of 3,484,277. 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 company has a market cap of $369.68 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.59 and a beta of 1.00. The company has a 50-day simple moving average of $395.17 and a two-hundred day simple moving average of $381.75. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot’s dividend payout ratio (DPR) is 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.