AXQ Capital LP Makes New $581,000 Investment in The Home Depot, Inc. $HD

AXQ Capital LP purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,585 shares of the home improvement retailer’s stock, valued at approximately $581,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mainstay Capital Management LLC ADV purchased a new position in Home Depot during the second quarter valued at approximately $263,000. WealthPlan Investment Management LLC purchased a new stake in Home Depot in the 2nd quarter worth approximately $1,149,000. Tower View Wealth Management LLC grew its stake in shares of Home Depot by 4.3% during the 2nd quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock worth $5,938,000 after purchasing an additional 671 shares during the period. Ransom Advisory Ltd purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. increased its holdings in shares of Home Depot by 45.2% during the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the topic of several recent analyst reports. Royal Bank Of Canada lowered their target price on shares of Home Depot from $401.00 to $376.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Oppenheimer upped their price target on Home Depot from $400.00 to $420.00 and gave the stock a “market perform” rating in a report on Thursday, September 25th. Citigroup lowered their price target on Home Depot from $422.00 to $407.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley cut their price objective on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, KGI Securities downgraded Home Depot from an “outperform” rating to a “hold” rating and set a $320.00 target price for the company. in a research note on Wednesday. Twenty-one analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $410.24.

Home Depot Price Performance

HD stock opened at $343.22 on Friday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31. The stock has a market cap of $341.64 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The business has a fifty day moving average of $385.34 and a two-hundred day moving average of $381.15.

Home Depot (NYSE:HD) last issued 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). The company had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s dividend payout ratio is 62.71%.

Insiders Place Their Bets

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

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.