Cherokee Insurance Co Takes $1.72 Million Position in The Home Depot, Inc. $HD

Cherokee Insurance Co purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,700 shares of the home improvement retailer’s stock, valued at approximately $1,723,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock worth $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Geode Capital Management LLC increased its holdings in Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after buying an additional 327,674 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 buying an additional 891,326 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Home Depot by 19.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Home Depot by 5.6% during 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 valued at $3,279,867,000 after acquiring an additional 477,192 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.9%

NYSE HD opened at $370.87 on Thursday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. 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 capitalization of $369.16 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock’s 50-day moving average price is $395.17 and its 200-day moving average price is $381.75.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot’s dividend payout ratio is 62.50%.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angie Brown sold 1,000 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total transaction of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a research note on Monday. DA Davidson reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Sanford C. Bernstein increased their price target on Home Depot from $403.00 to $406.00 and gave the company a “market perform” rating in a report on Friday, November 7th. Robert W. Baird raised their price target on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $433.00.

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.