Wealthfront Advisers LLC Purchases 10,325 Shares of The Home Depot, Inc. $HD

Wealthfront Advisers LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 119,136 shares of the home improvement retailer’s stock after buying an additional 10,325 shares during the quarter. Wealthfront Advisers LLC’s holdings in Home Depot were worth $48,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sagard Holdings Management Inc. acquired a new stake in Home Depot during the 2nd quarter worth $29,000. LFA Lugano Financial Advisors SA bought a new position in shares of Home Depot in the 2nd quarter worth $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the 2nd quarter worth $35,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of Home Depot during the third quarter worth $38,000. Finally, Marquette Asset Management LLC bought a new stake in Home Depot in the third quarter valued at about $38,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

NYSE HD opened at $380.99 on Tuesday. The firm’s 50 day moving average is $363.28 and its 200-day moving average is $379.63. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $379.28 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 13.75 and a beta of 1.08. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. During the same period last year, the business posted $3.78 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, December 4th. Home Depot’s dividend payout ratio is presently 62.71%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 2,872 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the transaction, the executive vice president directly owned 13,196 shares of the company’s stock, valued at approximately $4,599,069.92. This represents a 17.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This represents a 33.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,963 shares of company stock worth $1,748,845. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Piper Sandler decreased their target price on Home Depot from $450.00 to $441.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Evercore decreased their price objective on shares of Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Daiwa Securities Group upped their target price on shares of Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Home Depot in a report on Monday, December 29th. Finally, Oppenheimer lowered their price objective on shares of Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a research report on Friday, December 5th. Twenty-one analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.47.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.