Caitong International Asset Management Co. Ltd Makes New Investment in The Home Depot, Inc. $HD

Caitong International Asset Management Co. Ltd purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 829 shares of the home improvement retailer’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Client 1ST Advisory Group LLC raised its position in Home Depot by 1.5% during the first quarter. Client 1ST Advisory Group LLC now owns 1,878 shares of the home improvement retailer’s stock worth $688,000 after acquiring an additional 27 shares in the last quarter. Financial Insights Inc. raised its position in Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after acquiring an additional 28 shares in the last quarter. Wayfinding Financial LLC raised its position in Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after acquiring an additional 28 shares in the last quarter. Pure Portfolios Holdings LLC raised its position in shares of Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 28 shares during the period. Finally, First Interstate Bank raised its position in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock valued at $3,306,000 after purchasing an additional 28 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE:HD opened at $385.06 on Friday. The company’s 50 day moving average price is $402.93 and its two-hundred day moving average price is $378.83. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The firm has a market cap of $383.29 billion, a PE ratio of 26.16, a PEG ratio of 3.69 and a beta of 1.00. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) 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 analyst estimates of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is presently 62.50%.

Insider Activity

In other Home Depot news, EVP William D. Bastek sold 3,783 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 24,235 shares in the company, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total transaction of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HD shares. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. Stifel Nicolaus increased their price objective on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company increased their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $435.42.

About Home Depot

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.