Taylor Hoffman Capital Management LLC Acquires New Shares in The Home Depot, Inc. $HD

Taylor Hoffman Capital Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, Holdings Channel reports. The fund purchased 554 shares of the home improvement retailer’s stock, valued at approximately $203,000.

Other large investors also recently added to or reduced their stakes in the company. Ransom Advisory Ltd acquired a new stake in shares of Home Depot in the first quarter valued at $3,851,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Home Depot in the first quarter valued at $406,000. Wealth Management Partners LLC raised its stake in shares of Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after acquiring an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV raised its stake in shares of Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after acquiring an additional 221 shares in the last quarter. Finally, Focus Partners Wealth raised its stake in shares of Home Depot by 4.1% in the first quarter. Focus Partners Wealth now owns 423,287 shares of the home improvement retailer’s stock valued at $155,131,000 after acquiring an additional 16,654 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,483 shares of Home Depot stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 16,057 shares in the company, valued at approximately $6,635,234.11. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $421.87 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 52-week low of $326.31 and a 52-week high of $439.37. The business’s 50-day moving average price is $392.22 and its 200 day moving average price is $372.74. The firm has a market cap of $419.93 billion, a P/E ratio of 28.66, a P/E/G ratio of 4.01 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) 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 analysts’ expectations of $45.43 billion. During the same period in the prior year, the business earned $4.60 EPS. The business’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, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.2%. Home Depot’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Truist Financial increased their price objective on Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Robert W. Baird increased their price objective on Home Depot from $425.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $432.52.

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.