The Home Depot, Inc. $HD Stock: Global Wealth Management Investment Advisory Inc. Grows Holdings

Global Wealth Management Investment Advisory Inc. increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 52.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,203 shares of the home improvement retailer’s stock after purchasing an additional 7,986 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Home Depot were worth $6,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Bank of Nova Scotia acquired a new stake in Home Depot in the 2nd quarter valued at about $118,723,000. AFT Forsyth & Company Inc. acquired a new stake in shares of Home Depot in the second quarter valued at approximately $1,896,000. Field & Main Bank purchased a new position in Home Depot during the second quarter worth approximately $6,286,000. State Street Corp lifted its position in Home Depot by 1.1% during the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer’s stock worth $16,637,688,000 after buying an additional 499,168 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Home Depot by 9.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer’s stock worth $17,315,000 after buying an additional 4,292 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer directly owned 48,104 shares of the company’s stock, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kimberly R. Scardino sold 675 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $305.95, for a total value of $206,516.25. Following the sale, the chief accounting officer directly owned 8,189 shares of the company’s stock, valued at $2,505,424.55. The trade was a 7.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 9,829 shares of company stock worth $3,339,314. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. Sanford C. Bernstein lowered their price objective on Home Depot from $354.00 to $344.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 9th. Melius Research set a $397.00 target price on Home Depot in a research note on Tuesday, October 6th. UBS Group reaffirmed a “buy” rating on shares of Home Depot in a research note on Thursday, September 17th. Royal Bank Of Canada reduced their price target on Home Depot from $343.00 to $342.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 19th. Finally, Guggenheim reissued a “buy” rating and set a $425.00 price target on shares of Home Depot in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $375.45.

Home Depot News Roundup

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Home Depot Stock Up 3.0%

Shares of NYSE HD opened at $353.77 on Tuesday. The company has a market capitalization of $352.95 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.53 and a beta of 0.93. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The company has a 50 day simple moving average of $309.90 and a 200-day simple moving average of $333.92. The Home Depot, Inc. has a 1 year low of $277.15 and a 1 year high of $397.63.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. The firm had revenue of $47.86 billion for the quarter, compared to analysts’ expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a $2.33 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.6%. Home Depot’s payout ratio is currently 65.22%.

Home Depot Company Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.