Bank of Jackson Hole Trust Boosts Position in The Home Depot, Inc. $HD

Bank of Jackson Hole Trust raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,558 shares of the home improvement retailer’s stock after buying an additional 447 shares during the quarter. Home Depot comprises 0.7% of Bank of Jackson Hole Trust’s portfolio, making the stock its 29th largest holding. Bank of Jackson Hole Trust’s holdings in Home Depot were worth $1,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in Home Depot during the 2nd quarter valued at about $28,000. Abound Financial LLC purchased a new position in Home Depot during the 1st quarter valued at about $31,000. Iron Horse Wealth Management LLC grew its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Home Depot during the 2nd quarter valued at about $40,000. Finally, GFG Capital LLC purchased a new position in Home Depot during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $385.86 on Wednesday. The business has a 50 day moving average of $402.09 and a 200 day moving average of $380.13. The company has a market capitalization of $384.08 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 3.66 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-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 released 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 during 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%.The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s payout ratio is presently 62.50%.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 32,897 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total value of $13,067,346.34. Following the completion of the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at $18,348,365.30. The trade was a 6.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,835 shares of company stock worth $19,623,432 over the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on HD shares. Stifel Nicolaus lifted their target price on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. JPMorgan Chase & Co. cut their price objective on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Morgan Stanley boosted their price objective on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Oppenheimer boosted their price objective on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Finally, Truist Financial boosted their price objective on Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $434.35.

Home Depot Company 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.