Allstate Corp Boosts Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Allstate Corp more than doubled its stake in Home Depot during the fourth quarter, increasing holdings by 108.5% to 75,062 shares worth about $25.8 million.
• Home Depot’s recent earnings beat expectations, with quarterly EPS of $3.43 versus the $3.41 consensus, while revenue rose 4.8% year over year to $41.77 billion.
• Wall Street remains mostly positive but has trimmed price targets, leaving Home Depot with a consensus rating of Moderate Buy and an average target price of $371.39.

Allstate Corp raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 108.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 75,062 shares of the home improvement retailer's stock after purchasing an additional 39,055 shares during the period. Allstate Corp's holdings in Home Depot were worth $25,829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HD. Silphium Asset Management Ltd increased its position in shares of Home Depot by 77.2% during the third quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer's stock worth $5,488,000 after purchasing an additional 5,900 shares in the last quarter. Truist Financial Corp increased its position in shares of Home Depot by 0.3% during the third quarter. Truist Financial Corp now owns 1,095,113 shares of the home improvement retailer's stock worth $443,729,000 after purchasing an additional 3,608 shares in the last quarter. Atlantic Union Bankshares Corp increased its position in shares of Home Depot by 59.9% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 107,438 shares of the home improvement retailer's stock valued at $43,533,000 after acquiring an additional 40,232 shares during the period. Carnegie Investment Counsel raised its stake in Home Depot by 24.8% in the 4th quarter. Carnegie Investment Counsel now owns 108,306 shares of the home improvement retailer's stock worth $37,268,000 after acquiring an additional 21,545 shares during the last quarter. Finally, Savvy Advisors Inc. raised its stake in Home Depot by 36.0% in the 4th quarter. Savvy Advisors Inc. now owns 19,478 shares of the home improvement retailer's stock worth $6,703,000 after acquiring an additional 5,152 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. Zacks Research upgraded Home Depot from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. UBS Group cut their price target on Home Depot from $450.00 to $430.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Royal Bank Of Canada cut their price target on Home Depot from $377.00 to $340.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 20th. JPMorgan Chase & Co. cut their price target on Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Finally, Morgan Stanley cut their price target on Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $371.39.

Home Depot Trading Up 0.0%

HD opened at $313.18 on Tuesday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.26. The company's 50 day simple moving average is $326.42 and its two-hundred day simple moving average is $351.14. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The firm has a market capitalization of $311.94 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 3.62 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The business had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same period last year, the company posted $3.56 EPS. The business'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. Analysts expect that The Home Depot, Inc. will post 15.02 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, June 4th. Home Depot's dividend payout ratio (DPR) is 66.19%.

Insiders Place Their Bets

In other news, CFO Richard V. Mcphail sold 2,550 shares of Home Depot stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total transaction of $940,669.50. Following the sale, the chief financial officer owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.

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.

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