The Home Depot, Inc. $HD Shares Bought by Westchester Capital Management Inc.

Westchester Capital Management Inc. raised its holdings in The Home Depot, Inc. (NYSE:HD) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,659 shares of the home improvement retailer’s stock after acquiring an additional 339 shares during the period. Home Depot accounts for about 3.3% of Westchester Capital Management Inc.’s holdings, making the stock its 14th biggest position. Westchester Capital Management Inc.’s holdings in Home Depot were worth $14,174,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HD. Vanguard Group Inc. grew its stake in shares of Home Depot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer’s stock valued at $35,360,494,000 after buying an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV boosted its holdings in Home Depot by 99,400.7% in the first 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 last quarter. Charles Schwab Investment Management Inc. grew its position in Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer’s stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the period. Price T Rowe Associates Inc. MD grew its position in Home Depot by 19.3% during the first 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, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Home Depot by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,949,404 shares of the home improvement retailer’s stock worth $3,279,867,000 after acquiring an additional 477,192 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HD shares. Truist Financial raised their price target on shares of Home Depot from $417.00 to $433.00 and gave the company a “buy” rating in a report on Wednesday, August 13th. Robert W. Baird increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Oppenheimer lifted their target price on shares of Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Wells Fargo & Company upped their price target on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, Mizuho raised their price objective on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $435.42.

Home Depot Stock Performance

Shares of Home Depot stock opened at $379.36 on Tuesday. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm’s 50-day simple moving average is $403.51 and its 200-day simple moving average is $377.45. The firm has a market cap of $377.61 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities analysts forecast 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. Shareholders 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 annualized dividend and a yield of 2.4%. Home Depot’s dividend payout ratio is 62.50%.

Insider Buying and Selling

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares of the company’s stock, valued at $48,629,658.50. The trade was a 21.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction dated 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 in the company, valued at approximately $18,348,365.30. This represents 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 in the last ninety days. Insiders own 0.10% of the company’s stock.

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.