Private Management Group Inc. Acquires 21,909 Shares of The Home Depot, Inc. $HD

Private Management Group Inc. grew its stake in The Home Depot, Inc. (NYSE:HD) by 1,930.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,044 shares of the home improvement retailer’s stock after purchasing an additional 21,909 shares during the quarter. Private Management Group Inc.’s holdings in Home Depot were worth $8,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Legend Financial Advisors Inc. bought a new position in Home Depot during the second quarter worth about $28,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 2nd quarter worth approximately $35,000. Global X Japan Co. Ltd. acquired a new position in Home Depot during the second quarter valued at approximately $40,000. Finally, GFG Capital LLC acquired a new position in Home Depot during the second quarter valued at approximately $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $343.22 on Friday. The firm has a market cap of $341.64 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The stock’s 50-day moving average is $385.34 and its 200-day moving average is $381.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34.

Home Depot (NYSE:HD) last announced its 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). The firm had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

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 shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on HD. BNP Paribas Exane cut their target price on shares of Home Depot from $391.00 to $353.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank Of Canada dropped their price objective on Home Depot from $401.00 to $376.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Gordon Haskett decreased their target price on Home Depot from $400.00 to $345.00 in a research note on Monday, November 10th. Morgan Stanley dropped their price target on Home Depot from $430.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, HSBC decreased their price objective on Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a research report on Wednesday. Twenty-one research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $410.24.

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.