Adage Capital Partners GP L.L.C. Boosts Stock Position in The Home Depot, Inc. $HD

Adage Capital Partners GP L.L.C. boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 18.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,441,468 shares of the home improvement retailer’s stock after acquiring an additional 223,712 shares during the period. Home Depot accounts for about 0.9% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its 15th largest position. Adage Capital Partners GP L.L.C. owned about 0.14% of Home Depot worth $528,500,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in shares of Home Depot in the second quarter valued at about $28,000. Sagard Holdings Management Inc. bought a new stake in Home Depot during the 2nd quarter valued at approximately $29,000. LFA Lugano Financial Advisors SA purchased a new position in Home Depot in the 2nd quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the 2nd quarter worth approximately $35,000. Finally, Global X Japan Co. Ltd. bought a new position in Home Depot in the 2nd quarter worth approximately $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 0.6%

HD opened at $359.52 on Friday. The stock has a 50-day moving average of $368.34 and a 200 day moving average of $379.23. 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 Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $426.75. The firm has a market cap of $357.90 billion, a P/E ratio of 24.51, a P/E/G ratio of 13.32 and a beta of 1.06.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (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 the consensus estimate of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. Home Depot’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s payout ratio is presently 62.71%.

Analyst Ratings Changes

Several research firms have recently commented on HD. Morgan Stanley reissued an “outperform” rating on shares of Home Depot in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Home Depot in a report on Monday. Guggenheim decreased their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Telsey Advisory Group dropped their price objective on shares of Home Depot from $430.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a report 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $401.17.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $358.26, for a total transaction of $51,947.70. Following the transaction, the executive vice president owned 12,320 shares in the company, valued at $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by company 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.