Argent Capital Management LLC Cuts Holdings in The Home Depot, Inc. $HD

Key Points

• Argent Capital Management reduced its Home Depot position by 11% in the first quarter, selling 7,096 shares and retaining 57,129 shares valued at approximately $18.8 million. Institutional investors collectively own 70.86% of the company.
• Home Depot’s latest quarterly results modestly exceeded expectations, with revenue rising 4.8% year over year to $41.77 billion and EPS of $3.43. The company also pays a quarterly dividend of $2.33, equivalent to a 2.8% annualized yield.
• Analysts maintain a generally positive outlook, with 18 Buy, 13 Hold and one Sell rating and an average price target of $371.71, despite several firms recently lowering their targets. Home Depot is also reorganizing operations and increasing digital advertising efforts to improve customer engagement and capture more market share.

Argent Capital Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,129 shares of the home improvement retailer's stock after selling 7,096 shares during the quarter. Argent Capital Management LLC's holdings in Home Depot were worth $18,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Advocate Investing Services LLC purchased a new stake in shares of Home Depot during the 4th quarter worth $25,000. Parvin Asset Management LLC lifted its stake in shares of Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock valued at $26,000 after purchasing an additional 33 shares during the period. Cache Advisors LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $27,000. Key Capital Management INC purchased a new stake in Home Depot during the fourth quarter worth about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Home Depot during the first quarter worth about $28,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Key Stories Impacting Home Depot

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

• Positive Sentiment: Leadership realignment targets growth: Home Depot is combining its merchandising, customer experience and Pro-focused operations to create a more seamless customer experience and capture a larger share of the estimated $1.2 trillion home-improvement market. Management says the changes are intended to strengthen the core business, improve innovation and win more professional customers. The Home Depot Announces Organizational Realignment
• Positive Sentiment: Greater investment in digital advertising: Home Depot is reportedly among the major brands increasing advertising on ChatGPT as OpenAI expands its mobile advertising business. If effective, the channel could help the retailer reach consumers researching home projects and drive online sales. Brands Betting Bigger on ChatGPT Ads

Home Depot Stock Performance

Shares of HD opened at $332.72 on Friday. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The company's 50 day simple moving average is $332.42 and its 200 day simple moving average is $344.08. The company has a market capitalization of $331.77 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 3.85 and a beta of 0.95. 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 issued 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 during the quarter, compared to the consensus estimate of $41.59 billion. During the same period in the previous year, the firm posted $3.56 EPS. Home Depot'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, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were paid a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, June 4th. Home Depot's dividend payout ratio is presently 66.19%.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. The Goldman Sachs Group dropped their target price on shares of Home Depot from $409.00 to $390.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Telsey Advisory Group lowered their price target on Home Depot from $435.00 to $410.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Weiss Ratings raised Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 7th. Royal Bank Of Canada reduced their price objective on Home Depot from $377.00 to $340.00 and set a "sector perform" rating for the company in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. decreased their target price 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. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $371.71.

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.

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