Reynders McVeigh Capital Management LLC Increases Position in The Home Depot, Inc. $HD

Reynders McVeigh Capital Management LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,536 shares of the home improvement retailer’s stock after buying an additional 6,484 shares during the quarter. Home Depot accounts for 1.7% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Reynders McVeigh Capital Management LLC’s holdings in Home Depot were worth $33,561,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Home Depot in the second quarter valued at approximately $4,885,603,000. Laurel Wealth Advisors LLC lifted its position in Home Depot by 36,207.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after acquiring an additional 10,049,029 shares during the period. Valeo Financial Advisors LLC increased its stake in Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after buying an additional 4,510,944 shares during the period. Vanguard Group Inc. increased its position in Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after purchasing an additional 1,494,615 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock worth $3,391,240,000 after acquiring an additional 1,494,261 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $358.26, for a total transaction of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at $4,413,763.20. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

NYSE HD opened at $359.52 on Monday. 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 1 year low of $326.31 and a 1 year high of $426.75. The stock has a market capitalization of $357.90 billion, a P/E ratio of 24.51, a P/E/G ratio of 13.40 and a beta of 1.06. The business’s fifty day moving average is $368.34 and its two-hundred day moving average is $379.38.

Home Depot (NYSE:HD) last released 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). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. During the same quarter in the previous year, the company earned $3.78 EPS. Home Depot’s revenue for the quarter was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s payout ratio is currently 62.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HD shares. Weiss Ratings restated a “hold (c+)” rating on shares of Home Depot in a report on Monday, December 8th. JPMorgan Chase & Co. lowered their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. Morgan Stanley reissued an “outperform” rating on shares of Home Depot in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $413.00 price target on shares of Home Depot in a research report on Wednesday. Finally, TD Cowen lowered their price objective on Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $401.17.

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.