Park Place Capital Corp Grows Position in The Home Depot, Inc. $HD

Park Place Capital Corp raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,949 shares of the home improvement retailer’s stock after purchasing an additional 42 shares during the quarter. Park Place Capital Corp’s holdings in Home Depot were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares during the period. Mirador Capital Partners LP increased its position in shares of Home Depot by 9.0% during the first quarter. Mirador Capital Partners LP now owns 1,285 shares of the home improvement retailer’s stock valued at $471,000 after buying an additional 106 shares during the period. Baker Tilly Wealth Management LLC increased its position in shares of Home Depot by 1.3% during the first quarter. Baker Tilly Wealth Management LLC now owns 3,381 shares of the home improvement retailer’s stock valued at $1,239,000 after buying an additional 42 shares during the period. NBC Securities Inc. increased its position in shares of Home Depot by 46,104.5% during the first quarter. NBC Securities Inc. now owns 10,165 shares of the home improvement retailer’s stock valued at $3,725,000 after buying an additional 10,143 shares during the period. Finally, Sweeney & Michel LLC bought a new stake in shares of Home Depot during the first quarter valued at about $457,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HD. Morgan Stanley upped their price target on Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Stifel Nicolaus upped their price target on Home Depot from $425.00 to $432.00 and gave the company a “buy” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $460.00 to $452.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Wolfe Research initiated coverage on shares of Home Depot in a research report on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price objective on the stock. Finally, Truist Financial upped their price objective on shares of Home Depot from $417.00 to $433.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $436.40.

Insider Activity

In other news, 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 transaction of $1,359,930.54. Following the completion of the sale, the chief financial officer owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president directly owned 3,837 shares of the company’s stock, valued at approximately $1,550,416.59. This trade represents a 20.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.8%

Shares of NYSE HD opened at $406.70 on Tuesday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The firm’s 50 day simple moving average is $400.71 and its two-hundred day simple moving average is $375.25. The stock has a market capitalization of $404.82 billion, a P/E ratio of 27.63, a PEG ratio of 3.89 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the business earned $4.60 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

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.