Proffitt & Goodson Inc. Raises Stock Position in The Home Depot, Inc. $HD

Proffitt & Goodson Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 33.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 512 shares of the home improvement retailer’s stock after acquiring an additional 128 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Home Depot were worth $188,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Nuveen LLC acquired a new position in shares of Home Depot in the 1st quarter valued at $2,076,592,000. Valeo Financial Advisors LLC increased its holdings in shares of Home Depot by 16,746.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after acquiring an additional 4,510,944 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 19.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer’s stock valued at $3,391,240,000 after acquiring an additional 1,494,261 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $418,486,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $413.23, for a total transaction of $2,265,740.09. Following the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This trade represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $386.84 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $385.06 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The firm’s fifty day simple moving average is $403.07 and its 200-day simple moving average is $376.85.

Home Depot (NYSE:HD) last posted 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 company had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the company earned $4.60 earnings per share. The business’s revenue for the quarter 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. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.4%. Home Depot’s dividend payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price 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. Stifel Nicolaus lifted their target price on shares of Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a report on Monday, August 18th. 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 note on Wednesday, August 20th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Finally, Robert W. Baird boosted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $436.40.

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.