14,095,697 Shares in The Home Depot, Inc. $HD Acquired by Norges Bank

Key Points

• Norges Bank disclosed a new stake in Home Depot, buying 14.1 million shares valued at about $4.85 billion. The position makes Home Depot one of its larger holdings, representing roughly 0.5% of the portfolio.
• Home Depot reported fiscal Q1 earnings of $3.43 per share, slightly ahead of expectations, on $41.77 billion in revenue. Management also reiterated FY2026 EPS guidance of 14.690 to 15.278.
• The company announced a quarterly dividend of $2.33 per share, payable June 18, implying an annualized yield of about 2.9%. Meanwhile, analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $371.39.

Norges Bank purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 14,095,697 shares of the home improvement retailer's stock, valued at approximately $4,850,329,000. Home Depot comprises approximately 0.5% of Norges Bank's portfolio, making the stock its 26th biggest holding. Norges Bank owned approximately 1.42% of Home Depot as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parvin Asset Management LLC grew its position in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock worth $26,000 after acquiring an additional 33 shares during the last quarter. Key Capital Management INC bought a new position in Home Depot during the 4th quarter worth approximately $28,000. Financially Speaking Inc bought a new position in Home Depot during the 3rd quarter worth approximately $31,000. Navalign LLC bought a new position in Home Depot during the 4th quarter worth approximately $31,000. Finally, Disciplined Equity Management Inc. bought a new position in Home Depot during the 4th quarter worth approximately $34,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $317.41 on Friday. The firm has a market cap of $316.15 billion, a P/E ratio of 22.54, a P/E/G ratio of 3.71 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The business's 50 day moving average price is $324.70 and its 200-day moving average price is $349.76. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same period in the previous year, the company posted $3.56 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.02 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given a dividend of $2.33 per share. The ex-dividend date is Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. Home Depot's payout ratio is currently 66.19%.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 2,550 shares of Home Depot stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total transaction of $940,669.50. Following the sale, the chief financial officer directly owned 44,566 shares in the company, valued at $16,439,951.74. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on HD. Bank of America initiated coverage on Home Depot in a research report on Tuesday, May 5th. They set a "buy" rating and a $374.00 price target on the stock. Zacks Research upgraded Home Depot from a "strong sell" rating to a "hold" rating in a research report on Monday, February 9th. Gordon Haskett cut their price objective on Home Depot from $330.00 to $320.00 and set a "hold" rating on the stock in a research report on Tuesday, May 19th. Mizuho cut their price objective on Home Depot from $415.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 20th. Finally, HSBC cut their price objective on Home Depot from $392.00 to $310.00 and set a "hold" rating on the stock in a research report on Wednesday, May 20th. Twenty research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $371.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.