GM Advisory Group LLC Acquires 1,913 Shares of The Home Depot, Inc. $HD

GM Advisory Group LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 32.3% during the 2nd quarter, Holdings Channel reports. The firm owned 7,832 shares of the home improvement retailer’s stock after acquiring an additional 1,913 shares during the period. GM Advisory Group LLC’s holdings in Home Depot were worth $2,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in Home Depot by 68.3% in the second quarter. Quadrant Capital Group LLC now owns 41,489 shares of the home improvement retailer’s stock valued at $15,212,000 after purchasing an additional 16,840 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Home Depot by 35.8% in the 2nd quarter. Vinva Investment Management Ltd now owns 54,887 shares of the home improvement retailer’s stock valued at $20,239,000 after buying an additional 14,473 shares during the period. Garner Asset Management Corp increased its position in shares of Home Depot by 8.7% in the 2nd quarter. Garner Asset Management Corp now owns 1,616 shares of the home improvement retailer’s stock valued at $592,000 after buying an additional 130 shares in the last quarter. Thornburg Investment Management Inc. raised its stake in Home Depot by 0.6% during the 2nd quarter. Thornburg Investment Management Inc. now owns 512,523 shares of the home improvement retailer’s stock worth $187,911,000 after buying an additional 3,149 shares during the period. Finally, Employees Retirement System of Texas bought a new position in Home Depot during the second quarter worth about $82,476,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen lowered their price target on Home Depot from $470.00 to $410.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Guggenheim cut their price objective on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Bank of America reduced their price objective on Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Wolfe Research cut their target price on Home Depot from $497.00 to $423.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, DZ Bank reiterated a “sell” rating on shares of Home Depot in a report on Tuesday, November 18th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $404.60.

Insider Buying and Selling

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $423.12, for a total value of $974,445.36. Following the transaction, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of HD opened at $356.14 on Thursday. The company’s fifty day simple moving average is $381.00 and its 200 day simple moving average is $380.84. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $436.36. The company has a market cap of $354.49 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.59 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. During the same quarter last year, the business posted $3.78 earnings per share. The company’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 issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.6%. Home Depot’s dividend payout ratio (DPR) is currently 62.71%.

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.