Pointe Capital Management LLC Boosts Stake in The Home Depot, Inc. $HD

Pointe Capital Management LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 22.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 831 shares of the home improvement retailer’s stock after acquiring an additional 150 shares during the period. Pointe Capital Management LLC’s holdings in Home Depot were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in Home Depot during the second quarter worth about $28,000. Abound Financial LLC purchased a new position in Home Depot during the first quarter worth about $31,000. Iron Horse Wealth Management LLC grew its position in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in Home Depot during the second quarter worth about $40,000. Finally, GFG Capital LLC purchased a new position in Home Depot during the second quarter worth about $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total value of $974,445.36. Following the completion of the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,483 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $413.23, for a total value of $2,265,740.09. Following the completion of the transaction, the executive vice president directly owned 16,057 shares of the company’s stock, valued at $6,635,234.11. This represents a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,835 shares of company stock worth $19,623,432. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. Stifel Nicolaus upped 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. JPMorgan Chase & Co. dropped their target price on Home Depot from $460.00 to $452.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Oppenheimer increased their target price on Home Depot from $400.00 to $420.00 and gave the company a “market perform” rating in a report on Thursday, September 25th. Finally, DA Davidson restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $434.35.

Home Depot Trading Down 0.3%

NYSE HD opened at $378.29 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 company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15. The stock has a 50 day simple moving average of $399.96 and a two-hundred day simple moving average of $381.04. The stock has a market cap of $376.55 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion during the quarter, compared to analysts’ expectations of $45.43 billion. During the same quarter last year, the business posted $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. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s dividend payout ratio (DPR) 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.