Ancora Advisors LLC Acquires Shares of 102,289 The Home Depot, Inc. $HD

Key Points

• Ancora Advisors initiated a Home Depot position by purchasing 102,289 shares valued at approximately $36.1 million, while institutional investors collectively own 70.86% of HD.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, with sales up 5.7% year over year.
• The company declared a quarterly dividend of $2.33 per share, equivalent to $9.32 annually and a 2.8% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $375.54.

Ancora Advisors LLC bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 102,289 shares of the home improvement retailer's stock, valued at approximately $36,075,000. Home Depot makes up approximately 0.7% of Ancora Advisors LLC's investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in HD. BlackRock Inc. purchased a new stake in shares of Home Depot during the 2nd quarter valued at approximately $28,771,247,000. State Street Corp grew its position in Home Depot by 1.8% in the fourth quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock worth $16,147,010,000 after acquiring an additional 825,164 shares during the period. Geode Capital Management LLC grew its position in Home Depot by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock worth $8,151,344,000 after acquiring an additional 343,153 shares during the period. Bank of America Corp DE increased its stake in Home Depot by 1.6% during the first 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 acquiring an additional 250,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake 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 acquiring an additional 1,113,114 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

HD opened at $328.52 on Tuesday. The stock's 50-day moving average price is $341.00 and its 200 day moving average price is $338.03. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The firm has a market cap of $327.76 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 3.64 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 earnings per share for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The company had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the previous year, the company posted $4.68 EPS. Home Depot's 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 expect that The Home Depot, Inc. will post 15 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be paid a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, September 3rd. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

Insider Activity

In related news, EVP Michael F. Rowe sold 710 shares of Home Depot stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares in the company, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 2,455 shares of the company's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $328.77, for a total value of $807,130.35. Following the sale, the executive vice president owned 14,061 shares in the company, valued at approximately $4,622,834.97. This trade represents a 14.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,154 shares of company stock worth $3,132,798. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. TD Cowen reaffirmed a "buy" rating on shares of Home Depot in a research note on Monday, August 10th. UBS Group cut their price objective on Home Depot from $430.00 to $420.00 and set a "buy" rating for the company in a research report on Wednesday, August 19th. Robert W. Baird reduced their price objective on shares of Home Depot from $430.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Mizuho increased their target price on shares of Home Depot from $385.00 to $390.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Finally, Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.54.

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.

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