Assenagon Asset Management S.A. Raises Position in The Home Depot, Inc. $HD

Key Points

• Assenagon Asset Management increased its Home Depot stake by 65.7% in the second quarter, holding 362,225 shares valued at approximately $127.75 million. Institutional investors collectively own 70.86% of the company.
• Home Depot’s latest quarterly results exceeded expectations, with adjusted earnings of $3.43 per share and revenue of $41.77 billion, up 4.8% year over year. The company also issued fiscal 2026 earnings guidance and pays a quarterly dividend of $2.33 per share, yielding about 2.7%.
• Analyst sentiment remains broadly positive, with an overall “Moderate Buy” rating and an average price target of $371.71, although some firms recently lowered their targets. Investors continue to weigh competitive pressures and the broader outlook for home-related spending.

Assenagon Asset Management S.A. increased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 65.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 362,225 shares of the home improvement retailer's stock after buying an additional 143,597 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Home Depot were worth $127,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advocate Investing Services LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $25,000. Parvin Asset Management LLC grew its holdings in shares of Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock valued at $26,000 after buying an additional 33 shares during the last quarter. Cache Advisors LLC purchased a new stake in shares of Home Depot during the first quarter valued at $27,000. Key Capital Management INC acquired a new position in shares of Home Depot in the 4th quarter valued at $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Home Depot in the 1st quarter valued at $28,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HD shares. Wolfe Research lowered Home Depot from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, June 23rd. HSBC cut their price objective on Home Depot from $392.00 to $310.00 and set a "hold" rating on the stock in a report on Wednesday, May 20th. The Goldman Sachs Group decreased their target price on Home Depot from $409.00 to $390.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Gordon Haskett upped their target price on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Finally, Morgan Stanley cut their price target 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. Eighteen 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. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $371.71.

Home Depot Stock Performance

Shares of NYSE HD opened at $349.41 on Friday. The company has a market capitalization of $348.40 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 4.08 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. The company's fifty day moving average price is $334.99 and its 200 day moving average price is $343.00. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. The company had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot's dividend payout ratio (DPR) is 66.19%.

Key Stories Impacting Home Depot

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

• Positive Sentiment: Wall Street remains broadly constructive on Home Depot (HD), with the average analyst recommendation equivalent to a Buy. Analysts remain moderately optimistic despite the stock’s recent underperformance relative to the broader market. Is Home Depot a Buy as Wall Street Analysts Look Optimistic?
• Positive Sentiment: The company’s latest quarterly results provided fundamental support: Home Depot exceeded consensus estimates for both earnings and revenue, while sales increased 4.8% year over year. Management also issued fiscal 2026 earnings guidance, giving investors a framework for future performance. Why Did Home Depot Feature Amid a Firm Earnings Backdrop?
• Positive Sentiment: Home Depot is consolidating its technology teams under its new executive vice president and chief technology officer. The restructuring is intended to accelerate technology innovation, potentially improving operational efficiency, digital capabilities and customer engagement over time. Home Depot Reshuffles Leadership to Accelerate Tech Innovation
• Neutral Sentiment: Recent coverage has placed HD in focus as investors assess the broader retail backdrop and changing sentiment toward home-related spending. The articles offer context for the stock’s movement but do not identify a major change to Home Depot’s earnings outlook. Home Depot Stock Moves as Home Retail Tone Shifts
• Negative Sentiment: Investors are also focusing on a new competitive threat to Home Depot. Intensifying competition from home-improvement and big-box retailers could pressure market share, pricing and customer traffic, weighing on sentiment despite the company’s solid recent results. Home Depot Stock Slips as It Faces New Competitive Threat

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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