The Home Depot, Inc. $HD Shares Bought by BTC Capital Management Inc.

BTC Capital Management Inc. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 18.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 14,838 shares of the home improvement retailer’s stock after buying an additional 2,304 shares during the period. BTC Capital Management Inc.’s holdings in Home Depot were worth $6,010,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Sagard Holdings Management Inc. acquired a new position in Home Depot in the second quarter valued at approximately $29,000. Financially Speaking Inc purchased a new position in shares of Home Depot during the 3rd quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Home Depot in the 2nd quarter valued at $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the second quarter worth $35,000. Finally, Dougherty Wealth Advisers LLC purchased a new stake in Home Depot during the third quarter worth $38,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.2%

NYSE HD opened at $391.03 on Friday. The business has a fifty day moving average price of $366.16 and a 200 day moving average price of $379.98. 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 company has a market cap of $389.27 billion, a P/E ratio of 26.65, a P/E/G ratio of 13.94 and a beta of 1.08. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $426.75.

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). The business had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.Home Depot’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio is presently 62.71%.

Insiders Place Their Bets

In other news, EVP Angie Brown sold 1,946 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the transaction, the executive vice president directly owned 3,941 shares in the company, valued at $1,409,419.83. The trade was a 33.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 145 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the sale, the executive vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold 4,963 shares of company stock valued at $1,748,845 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on HD. Stifel Nicolaus cut their price objective on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating for the company in a report on Monday, December 1st. Truist Financial set a $405.00 target price on Home Depot in a research report on Friday, January 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Home Depot in a research note on Monday, December 29th. Morgan Stanley upped their price target on Home Depot from $395.00 to $412.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Finally, BNP Paribas Exane raised their price objective on Home Depot from $353.00 to $355.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $407.23.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.