Hoese & Co LLP Raises Holdings in The Home Depot, Inc. $HD

Hoese & Co LLP grew its holdings in The Home Depot, Inc. (NYSE:HD) by 25.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 367 shares of the home improvement retailer’s stock after acquiring an additional 75 shares during the quarter. Hoese & Co LLP’s holdings in Home Depot were worth $135,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HD. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at about $28,000. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its position in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 46 shares during the period. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. Wolfe Research started coverage on Home Depot in a report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price objective on the stock. Mizuho boosted their price target on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, August 20th. Finally, Oppenheimer increased their target price on shares of Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.42.

Home Depot Stock Up 1.1%

Shares of NYSE HD opened at $391.79 on Friday. The stock’s 50-day simple moving average is $403.70 and its 200-day simple moving average is $377.92. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a market cap of $389.98 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.68 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion for the quarter, compared to analyst estimates of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 EPS. The company’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. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is 62.50%.

Insider Activity at Home Depot

In related news, EVP William D. Bastek sold 3,783 shares of the 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 completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. This represents a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the transaction, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at $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. In the last three months, insiders sold 48,835 shares of company stock valued at $19,623,432. 0.10% of the stock is owned by insiders.

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.