New York Life Investment Management LLC Grows Position in The Home Depot, Inc. $HD

New York Life Investment Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,814 shares of the home improvement retailer’s stock after buying an additional 1,872 shares during the quarter. New York Life Investment Management LLC’s holdings in Home Depot were worth $54,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Brighton Jones LLC boosted its stake in shares of Home Depot by 36.5% in 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 in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Home Depot by 13.3% in the first quarter. Golden State Wealth Management LLC now owns 5,712 shares of the home improvement retailer’s stock valued at $2,093,000 after buying an additional 669 shares in the last quarter. Convergence Financial LLC boosted its stake in shares of Home Depot by 6.8% in the first quarter. Convergence Financial LLC now owns 595 shares of the home improvement retailer’s stock valued at $218,000 after buying an additional 38 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Home Depot by 1.6% in the first quarter. Amalgamated Bank now owns 214,628 shares of the home improvement retailer’s stock valued at $78,659,000 after buying an additional 3,448 shares in the last quarter. Finally, Albion Financial Group UT boosted its stake in shares of Home Depot by 1.4% in the first quarter. Albion Financial Group UT now owns 67,615 shares of the home improvement retailer’s stock valued at $24,780,000 after buying an additional 903 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. Wolfe Research began coverage on Home Depot in a research note on Thursday, September 18th. They issued an “outperform” rating and a $497.00 price target on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Morgan Stanley lifted their price objective on Home Depot from $415.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Wells Fargo & Company lifted their price objective on Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Stifel Nicolaus lifted their price objective on Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $434.35.

Home Depot Stock Performance

NYSE HD opened at $385.44 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $383.66 billion, a price-to-earnings ratio of 26.18, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00. The business has a fifty day moving average of $402.49 and a 200-day moving average of $379.90. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The company had revenue of $45.28 billion during the quarter, compared to analyst estimates of $45.43 billion. During the same period last year, the firm earned $4.60 earnings per share. The business’s 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, analysts predict 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 declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 4th. Home Depot’s payout ratio is 62.50%.

Insider Buying and Selling

In other 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 value of $13,067,346.34. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of Home Depot stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the completion of the sale, the chief financial officer directly owned 45,455 shares of the company’s stock, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,835 shares of company stock valued at $19,623,432. Company insiders own 0.10% of the company’s stock.

Home Depot 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.