Arizona State Retirement System Purchases 3,622 Shares of The Home Depot, Inc. $HD

Key Points

• Arizona State Retirement System increased its Home Depot stake by 1.3%, purchasing 3,622 shares to hold 276,374 shares valued at approximately $97.5 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $375.54; 18 analysts rate the stock Buy, 13 Hold, and one Sell.
• Home Depot exceeded quarterly earnings and revenue expectations, reporting $4.92 in EPS and $47.86 billion in revenue, while declaring a quarterly dividend of $2.33, or $9.32 annualized, for a 3.0% yield.

Arizona State Retirement System raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 276,374 shares of the home improvement retailer's stock after buying an additional 3,622 shares during the period. Arizona State Retirement System's holdings in Home Depot were worth $97,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of HD. 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. Zeit Capital LLC acquired a new position in Home Depot in the second quarter worth $26,000. Advocate Investing Services LLC acquired a new position in Home Depot in the fourth quarter worth $25,000. Cache Advisors LLC bought a new stake in shares of Home Depot during the first quarter worth $27,000. Finally, Imprint Wealth LLC acquired a new stake in shares of Home Depot in the third quarter valued at $34,000. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. HSBC cut their price target on Home Depot from $392.00 to $310.00 and set a "hold" rating for the company in a report on Wednesday, May 20th. Gordon Haskett raised their price objective on shares of Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Weiss Ratings raised shares of Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 7th. Stifel Nicolaus upped their target price on shares of Home Depot from $320.00 to $340.00 and gave the stock a "hold" rating in a research report on Monday, August 17th. Finally, Truist Financial increased their price target on shares of Home Depot from $369.00 to $373.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $375.54.

Home Depot Trading Down 2.3%

Shares of NYSE HD opened at $313.58 on Wednesday. The company's 50 day simple moving average is $337.98 and its 200 day simple moving average is $335.09. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The firm has a market capitalization of $312.86 billion, a P/E ratio of 21.94, a P/E/G ratio of 3.53 and a beta of 0.95. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31.

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, topping analysts' consensus estimates of $4.73 by $0.19. The firm had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, analysts predict that The Home Depot, Inc. will post 15 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, September 3rd. Home Depot's dividend payout ratio is currently 65.22%.

Insider Activity at Home Depot

In other Home Depot news, CFO Richard McPhail sold 5,989 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the transaction, the chief financial officer owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowe sold 710 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the transaction, the executive vice president owned 6,838 shares in the company, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,154 shares of company stock worth $3,132,798. 0.08% of the stock is owned by insiders.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.

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