Seamount Financial Group Inc. Raises Stock Position in The Home Depot, Inc. $HD

Seamount Financial Group Inc. raised its position in The Home Depot, Inc. (NYSE:HD) by 13.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,058 shares of the home improvement retailer’s stock after acquiring an additional 243 shares during the period. Seamount Financial Group Inc.’s holdings in Home Depot were worth $755,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. SteelPeak Wealth LLC increased its holdings in shares of Home Depot by 31.9% during the 2nd quarter. SteelPeak Wealth LLC now owns 28,065 shares of the home improvement retailer’s stock worth $10,290,000 after buying an additional 6,785 shares during the last quarter. Drake & Associates LLC lifted its holdings in Home Depot by 38.9% in the second quarter. Drake & Associates LLC now owns 1,821 shares of the home improvement retailer’s stock valued at $668,000 after acquiring an additional 510 shares during the last quarter. Motiv8 Investments LLC grew its position in Home Depot by 11.4% in the second quarter. Motiv8 Investments LLC now owns 3,359 shares of the home improvement retailer’s stock worth $1,231,000 after acquiring an additional 345 shares during the period. KPP Advisory Services LLC grew its position in Home Depot by 4.5% in the second quarter. KPP Advisory Services LLC now owns 7,284 shares of the home improvement retailer’s stock worth $2,671,000 after acquiring an additional 312 shares during the period. Finally, D.B. Root & Company LLC increased its stake in Home Depot by 1.8% during the second quarter. D.B. Root & Company LLC now owns 4,181 shares of the home improvement retailer’s stock worth $1,533,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP William D. Bastek sold 3,783 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $9,941,924.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Angie Brown sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares in the company, 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. Over the last quarter, insiders have sold 48,835 shares of company stock valued at $19,623,432. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. Mizuho upped their price target on Home Depot from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. Wells Fargo & Company increased their target price on shares of Home Depot from $420.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Wolfe Research started coverage on shares of Home Depot in a research report on Thursday, September 18th. They set an “outperform” rating and a $497.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $436.40.

Home Depot Stock Down 1.4%

Shares of NYSE:HD opened at $389.56 on Tuesday. 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 has a market capitalization of $387.76 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The firm’s 50-day moving average is $402.88 and its two-hundred day moving average is $376.78. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $45.43 billion. During the same period in the previous year, the business posted $4.60 EPS. The company’s revenue for the quarter 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. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $2.30 dividend. The ex-dividend date was Thursday, September 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s payout ratio is 62.50%.

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.