OMC Financial Services LTD purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) in the second quarter, HoldingsChannel reports. The institutional investor purchased 7,065 shares of the home improvement retailer’s stock, valued at approximately $2,492,000.
Other large investors also recently modified their holdings of the company. Parvin Asset Management LLC lifted its position in shares of Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 33 shares during the period. Zeit Capital LLC bought a new stake in Home Depot in the second quarter valued at $26,000. Advocate Investing Services LLC bought a new stake in Home Depot in the fourth quarter valued at $25,000. Cache Advisors LLC bought a new stake in Home Depot in the first quarter valued at $27,000. Finally, Imprint Wealth LLC acquired a new position in Home Depot during the third quarter worth $34,000. 70.86% of the stock is currently owned by institutional investors.
Home Depot Trading Up 0.5%
Shares of HD opened at $336.04 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.28 and a current ratio of 1.08. The company has a market cap of $335.07 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 3.70 and a beta of 0.95. The stock has a fifty day moving average price of $340.86 and a two-hundred day moving average price of $340.46. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75.
Home Depot Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot’s dividend payout ratio is currently 65.22%.
Analyst Ratings Changes
A number of research analysts have issued reports on HD shares. Stifel Nicolaus lifted their price objective on Home Depot from $320.00 to $340.00 and gave the company a “hold” rating in a report on Monday, August 17th. Morgan Stanley lowered their target price on shares of Home Depot from $420.00 to $400.00 and set an “overweight” rating on the stock in a report on Wednesday, May 20th. Bank of America initiated coverage on shares of Home Depot in a research report on Tuesday, May 5th. They set a “buy” rating and a $374.00 target price for the company. UBS Group cut their price target on shares of Home Depot from $430.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $423.00 to $396.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $375.54.
Check Out Our Latest Stock Report on Home Depot
Home Depot News Summary
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Home Depot’s latest quarter showed solid execution: earnings and revenue exceeded consensus estimates, while sales increased year over year. Bank of America characterized the results as resilient despite a difficult housing backdrop. Home Depot Q2 results analysis
- Positive Sentiment: The board declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3. The annualized payout implies a yield of approximately 2.8%, supporting the stock’s income appeal. Home Depot declares quarterly dividend
- Positive Sentiment: DA Davidson, Argus and Guggenheim reiterated or assigned “Buy” ratings, indicating continued confidence in Home Depot’s long-term positioning. The company is also expanding nationwide express delivery to make smaller projects more convenient for cautious consumers. DA Davidson buy rating Home Depot expands express delivery
- Neutral Sentiment: Royal Bank of Canada lowered its price target to $342, while KeyCorp maintained a Sector Weight rating. The mixed recommendations suggest limited near-term upside despite the earnings beat. RBC lowers Home Depot price target
- Neutral Sentiment: Home Depot expanded executive responsibilities and awarded restricted stock, changes intended to support leadership continuity but with no immediate earnings impact. Home Depot executive changes
- Negative Sentiment: Reports highlight margin pressure and an uphill sales environment as customers delay or reduce spending on major renovations. This could constrain comparable sales and profitability even after the recent quarterly beat. Home Depot margin pressure Home Depot customer spending concerns
- Negative Sentiment: CFO Richard McPhail sold 5,989 shares worth approximately $2.1 million, reducing his position by 11.1%. While insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. Home Depot CFO stock sale
Insiders Place Their Bets
In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the completion of the sale, the chief financial officer owned 48,104 shares in the company, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.
Home Depot Profile
The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.
Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.
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