Allspring Global Investments Holdings LLC Increases Stake in The Home Depot, Inc. $HD

Allspring Global Investments Holdings LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 60.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,323 shares of the home improvement retailer’s stock after purchasing an additional 155,893 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Home Depot were worth $163,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in shares of Home Depot during the second quarter worth approximately $28,000. Sagard Holdings Management Inc. acquired a new stake in shares of Home Depot during the 2nd quarter worth about $29,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the second quarter valued at $35,000. Finally, Dougherty Wealth Advisers LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the company’s stock in a transaction dated 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 directly owned 12,320 shares in the company, valued at approximately $4,413,763.20. This represents a 1.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the stock in a transaction dated Friday, December 26th. The shares were 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 trade represents a 17.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,963 shares of company stock worth $1,748,845. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HD shares. HSBC cut their price target on Home Depot from $445.00 to $400.00 and set a “hold” rating on the stock in a report on Wednesday, November 19th. DA Davidson lowered their price objective on Home Depot from $430.00 to $407.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Wall Street Zen cut shares of Home Depot from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Wells Fargo & Company dropped their price objective on shares of Home Depot from $400.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $413.00 target price on shares of Home Depot in a report on Wednesday, December 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $402.10.

Home Depot Stock Performance

NYSE:HD opened at $344.06 on Friday. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The firm has a market cap of $342.52 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 12.82 and a beta of 1.08. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $426.75. The firm’s fifty day moving average price is $357.98 and its 200 day moving average price is $377.49.

Home Depot (NYSE:HD) last released its earnings results 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 business had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.78 EPS. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.7%. Home Depot’s dividend payout ratio (DPR) is 62.71%.

Home Depot 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.