AMG National Trust Bank Takes $34.30 Million Position in The Home Depot, Inc. $HD

Key Points

• AMG National Trust Bank acquired 97,254 Home Depot shares worth approximately $34.3 million, making HD its 17th-largest holding and about 0.7% of its portfolio. Institutional investors collectively own 70.86% of the company.
• Home Depot’s latest quarter exceeded expectations, with EPS of $4.92 and revenue of $47.86 billion, up 5.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $375.54, though several firms recently lowered their targets.
• The company declared a quarterly dividend of $2.33 per share, equivalent to a 2.8% annualized yield. Investors continue to face risks from margin pressure and weaker demand for major renovation projects, while CFO Richard McPhail sold roughly $2.1 million in stock.

AMG National Trust Bank acquired a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 97,254 shares of the home improvement retailer's stock, valued at approximately $34,300,000. Home Depot comprises approximately 0.7% of AMG National Trust Bank's holdings, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after acquiring an additional 1,325,748 shares during the last quarter. State Street Corp raised its stake in shares of Home Depot by 1.8% in the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock valued at $16,147,010,000 after acquiring an additional 825,164 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Home Depot by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock worth $8,151,344,000 after purchasing an additional 343,153 shares during the last quarter. Bank of America Corp DE lifted its holdings in Home Depot by 1.6% in the 1st quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer's stock worth $5,365,629,000 after purchasing an additional 250,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Home Depot by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer's stock worth $5,323,620,000 after purchasing an additional 1,113,114 shares during the period. Institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In related news, CFO Richard V. Mcphail sold 5,989 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the transaction, the chief financial officer directly owned 48,104 shares in the company, valued at $16,759,433.60. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Home Depot from $430.00 to $420.00 and set a "buy" rating for the company in a research note on Wednesday. Jefferies Financial Group reiterated a "buy" rating and issued a $398.00 target price on shares of Home Depot in a research note on Tuesday, August 18th. Citigroup dropped their target price on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Morgan Stanley dropped their target price on shares of Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Eighteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $375.54.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Home Depot’s latest quarter showed solid execution: earnings and revenue exceeded consensus estimates, while sales increased year over year. Bank of America characterized the results as resilient despite a difficult housing backdrop. Home Depot Q2 results analysis
• Positive Sentiment: The board declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3. The annualized payout implies a yield of approximately 2.8%, supporting the stock’s income appeal. Home Depot declares quarterly dividend
• Positive Sentiment: DA Davidson, Argus and Guggenheim reiterated or assigned “Buy” ratings, indicating continued confidence in Home Depot’s long-term positioning. The company is also expanding nationwide express delivery to make smaller projects more convenient for cautious consumers. DA Davidson buy rating Home Depot expands express delivery
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $342, while KeyCorp maintained a Sector Weight rating. The mixed recommendations suggest limited near-term upside despite the earnings beat. RBC lowers Home Depot price target
• Neutral Sentiment: Home Depot expanded executive responsibilities and awarded restricted stock, changes intended to support leadership continuity but with no immediate earnings impact. Home Depot executive changes
• Negative Sentiment: Reports highlight margin pressure and an uphill sales environment as customers delay or reduce spending on major renovations. This could constrain comparable sales and profitability even after the recent quarterly beat. Home Depot margin pressure Home Depot customer spending concerns
• Negative Sentiment: CFO Richard McPhail sold 5,989 shares worth approximately $2.1 million, reducing his position by 11.1%. While insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. Home Depot CFO stock sale

Home Depot Trading Up 0.1%

Shares of HD stock opened at $336.04 on Monday. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The firm's fifty day simple moving average is $340.86 and its 200 day simple moving average is $340.20. The firm has a market capitalization of $335.07 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The firm had revenue of $47.86 billion during the quarter, compared to analysts' expectations of $47.24 billion. During the same period in the prior year, the company earned $4.68 EPS. The business's quarterly revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 14.99 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot's dividend payout ratio (DPR) is 65.22%.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source