Brant Point Investment Management LLC Raises Stock Holdings in The Home Depot, Inc. $HD

by · The Cerbat Gem

Brant Point Investment Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 112.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,500 shares of the home improvement retailer’s stock after buying an additional 3,436 shares during the quarter. Brant Point Investment Management LLC’s holdings in Home Depot were worth $2,383,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in Home Depot during the 2nd quarter valued at about $28,000. LFA Lugano Financial Advisors SA purchased a new stake in Home Depot in the second quarter worth about $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the second quarter valued at approximately $35,000. Global X Japan Co. Ltd. purchased a new position in shares of Home Depot during the second quarter valued at approximately $40,000. Finally, GFG Capital LLC purchased a new position in shares of Home Depot during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at $10,254,313.20. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Up 1.0%

Home Depot stock opened at $354.65 on Monday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $436.36. The stock has a fifty day simple moving average of $373.06 and a two-hundred day simple moving average of $379.85. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The firm has a market cap of $353.05 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 6.25 and a beta of 1.06.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $41.06 billion. During the same period last year, the business earned $3.78 earnings per share. The company’s quarterly revenue 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 analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s payout ratio is currently 62.71%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson set a $430.00 price target on Home Depot in a research note on Wednesday, November 19th. Zacks Research downgraded Home Depot from a “hold” rating to a “strong sell” rating in a report on Thursday, November 27th. DZ Bank reissued a “sell” rating on shares of Home Depot in a research note on Tuesday, November 18th. Evercore ISI reduced their price target on Home Depot from $450.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Finally, Morgan Stanley dropped their price target on shares of Home Depot from $430.00 to $395.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $403.50.

Read Our Latest Report on HD

Home Depot Company Profile

(Free Report)

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.

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