The Home Depot, Inc. (NYSE:HD) Shares Purchased by Smart Money Group LLC

21 Jan 2025, 09:39 by Kim Johansen · The Markets Daily

Smart Money Group LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,221 shares of the home improvement retailer’s stock after purchasing an additional 109 shares during the quarter. Smart Money Group LLC’s holdings in Home Depot were worth $864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. increased its holdings in shares of Home Depot by 11.1% in the second quarter. Pacer Advisors Inc. now owns 76,914 shares of the home improvement retailer’s stock valued at $26,477,000 after purchasing an additional 7,702 shares during the period. ProShare Advisors LLC increased its stake in Home Depot by 8.6% in the 2nd quarter. ProShare Advisors LLC now owns 245,701 shares of the home improvement retailer’s stock valued at $84,580,000 after buying an additional 19,360 shares during the period. Discovery Capital Management LLC CT purchased a new position in Home Depot during the 2nd quarter worth $5,852,000. Harmony Asset Management LLC lifted its stake in shares of Home Depot by 5.1% in the 2nd quarter. Harmony Asset Management LLC now owns 12,877 shares of the home improvement retailer’s stock worth $4,433,000 after acquiring an additional 626 shares during the period. Finally, Nippon Life Global Investors Americas Inc. boosted its holdings in shares of Home Depot by 18.2% in the second quarter. Nippon Life Global Investors Americas Inc. now owns 24,570 shares of the home improvement retailer’s stock valued at $8,458,000 after acquiring an additional 3,780 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $409.42 on Tuesday. The company has a market cap of $406.70 billion, a P/E ratio of 27.81, a P/E/G ratio of 4.11 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The business has a fifty day simple moving average of $406.51 and a 200-day simple moving average of $388.20.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.81 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Guggenheim upped their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

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Home Depot Company Profile

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