Evelyn Partners Investment Management Services Ltd Raises Stake in The Home Depot, Inc. $HD

Evelyn Partners Investment Management Services Ltd grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 50.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,497 shares of the home improvement retailer’s stock after acquiring an additional 500 shares during the quarter. Evelyn Partners Investment Management Services Ltd’s holdings in Home Depot were worth $559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HD. Evelyn Partners Investment Management LLP lifted its stake in Home Depot by 217.4% in the second quarter. Evelyn Partners Investment Management LLP now owns 1,701 shares of the home improvement retailer’s stock worth $624,000 after purchasing an additional 1,165 shares during the last quarter. AXQ Capital LP purchased a new position in shares of Home Depot in the second quarter worth about $581,000. Journey Strategic Wealth LLC lifted its stake in shares of Home Depot by 16.4% in the 2nd quarter. Journey Strategic Wealth LLC now owns 19,848 shares of the home improvement retailer’s stock valued at $7,277,000 after acquiring an additional 2,798 shares during the last quarter. Watchman Group Inc. boosted its holdings in Home Depot by 4.1% during the 2nd quarter. Watchman Group Inc. now owns 909 shares of the home improvement retailer’s stock valued at $333,000 after acquiring an additional 36 shares during the period. Finally, Mediolanum International Funds Ltd grew its position in Home Depot by 5.3% during the 2nd quarter. Mediolanum International Funds Ltd now owns 153,570 shares of the home improvement retailer’s stock worth $56,627,000 after acquiring an additional 7,756 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 3.3%

Shares of NYSE HD opened at $343.22 on Friday. The firm’s 50 day moving average price is $385.34 and its 200-day moving average price is $381.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The company has a market cap of $341.64 billion, a PE ratio of 23.32, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. Home Depot’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Analysts Set New Price Targets

Several analysts have weighed in on HD shares. Argus lowered their price objective on Home Depot from $450.00 to $425.00 and set a “buy” rating for the company in a research report on Thursday. BNP Paribas Exane lowered their price target on Home Depot from $391.00 to $353.00 and set a “neutral” rating for the company in a research report on Wednesday. Guggenheim reduced their target price on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial set a $379.00 price target on Home Depot in a research note on Tuesday. Finally, The Goldman Sachs Group cut their price target on shares of Home Depot from $444.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday. Twenty-one equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.24.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

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.