Geode Capital Management LLC Purchases 327,674 Shares of The Home Depot, Inc. $HD

Geode Capital Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,978,809 shares of the home improvement retailer’s stock after acquiring an additional 327,674 shares during the quarter. Home Depot makes up about 0.6% of Geode Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Geode Capital Management LLC owned approximately 2.31% of Home Depot worth $8,394,611,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Mainstay Capital Management LLC ADV acquired a new position in Home Depot in the second quarter valued at about $263,000. WealthPlan Investment Management LLC acquired a new stake in shares of Home Depot during the second quarter worth about $1,149,000. Tower View Wealth Management LLC lifted its holdings in shares of Home Depot by 4.3% during 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 in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Home Depot in the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. grew its position in shares of Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. DA Davidson reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. Oppenheimer boosted their price target on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Finally, Sanford C. Bernstein upped their price objective on Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $433.77.

Home Depot Price Performance

NYSE:HD opened at $374.29 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31. The firm has a fifty day simple moving average of $395.90 and a 200 day simple moving average of $381.83. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a market capitalization of $372.56 billion, a PE ratio of 25.43, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly 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). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the firm earned $4.60 EPS. Home Depot’s quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other Home Depot 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 directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is currently owned by insiders.

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.