BTC Capital Management Inc. Boosts Holdings in The Home Depot, Inc. $HD

BTC Capital Management Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 18.4% in the third quarter, Holdings Channel reports. The institutional investor owned 14,838 shares of the home improvement retailer’s stock after acquiring an additional 2,304 shares during the quarter. BTC Capital Management Inc.’s holdings in Home Depot were worth $6,010,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sagard Holdings Management Inc. purchased a new stake in Home Depot in the second quarter valued at $29,000. Financially Speaking Inc purchased a new position in shares of Home Depot during the 3rd quarter worth $31,000. LFA Lugano Financial Advisors SA purchased a new stake in Home Depot in the 2nd quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $35,000. Finally, Dougherty Wealth Advisers LLC acquired a new position in Home Depot in the third quarter valued at about $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HD shares. JPMorgan Chase & Co. dropped their price target on shares of Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Bank of America lowered their price objective on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a research report on Monday, December 29th. Piper Sandler decreased their price target on Home Depot from $450.00 to $441.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus dropped their price objective on Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a research note on Monday, December 1st. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $407.23.

Insider Activity at Home Depot

In other news, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 145 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the transaction, the executive vice president owned 12,320 shares in the company, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,963 shares of company stock valued at $1,748,845 over the last quarter. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $391.03 on Friday. The business has a 50-day simple moving average of $366.16 and a 200-day simple moving average of $379.98. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.29 and a current ratio of 1.05. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $426.75. The company has a market cap of $389.27 billion, a PE ratio of 26.65, a P/E/G ratio of 13.94 and a beta of 1.08.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same quarter in the prior year, the firm earned $3.78 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s payout ratio is presently 62.71%.

About Home Depot

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.