Tuttle Capital Management LLC Acquires 204 Shares of The Home Depot, Inc. $HD

Tuttle Capital Management LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 14.8% during the second quarter, HoldingsChannel reports. The firm owned 1,581 shares of the home improvement retailer’s stock after acquiring an additional 204 shares during the quarter. Home Depot accounts for 2.4% of Tuttle Capital Management LLC’s holdings, making the stock its 21st largest position. Tuttle Capital Management LLC’s holdings in Home Depot were worth $580,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Mainstay Capital Management LLC ADV bought a new stake in shares of Home Depot during the 2nd quarter valued at approximately $263,000. Tower View Wealth Management LLC lifted its stake in Home Depot by 4.3% in the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after purchasing an additional 671 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Home Depot in the first quarter valued at approximately $3,851,000. Shell Asset Management Co. boosted its position in Home Depot by 45.2% in the second quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after buying an additional 15,002 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the first quarter worth $406,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 2.2%

Shares of NYSE HD opened at $387.72 on Wednesday. The company’s 50 day moving average price is $403.56 and its 200-day moving average price is $377.52. 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 Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $385.94 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 3.60 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.Home Depot’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research assumed coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target for the company. Stifel Nicolaus upped their target price on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Robert W. Baird lifted their price target on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price target on Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a 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 issued a Hold rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.42.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 32,897 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP William D. Bastek sold 2,303 shares of Home Depot 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 sale, the executive vice president owned 24,235 shares of the company’s stock, valued at $10,254,313.20. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,835 shares of company stock valued at $19,623,432 over the last ninety days. Insiders own 0.10% of the company’s stock.

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.