Asset One Wealth Management LLC Purchases New Shares in The Home Depot, Inc. $HD

Key Points

• Asset One Wealth Management opened a new position in Home Depot during the fourth quarter, buying 9,599 shares valued at about $3.63 million.
• Other institutional investors also added to or initiated stakes in HD, and hedge funds and institutions now own 70.86% of the company’s shares.
• Home Depot reported quarterly earnings of $3.43 per share, slightly above estimates, and revenue of $41.77 billion; the company also declared a $2.33 quarterly dividend payable June 18.

Asset One Wealth Management LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,599 shares of the home improvement retailer's stock, valued at approximately $3,630,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Aureus Asset Management LLC increased its stake in Home Depot by 2.0% in the fourth quarter. Aureus Asset Management LLC now owns 6,464 shares of the home improvement retailer's stock worth $2,224,000 after purchasing an additional 128 shares during the period. Basso Capital Management L.P. purchased a new stake in Home Depot in the fourth quarter worth $58,000. BNB Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth $368,000. Bridgeway Capital Management LLC increased its stake in Home Depot by 25.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 70,894 shares of the home improvement retailer's stock worth $24,395,000 after purchasing an additional 14,517 shares during the period. Finally, Brooks Moore & Associates Inc. increased its stake in Home Depot by 0.3% in the fourth quarter. Brooks Moore & Associates Inc. now owns 10,676 shares of the home improvement retailer's stock worth $3,674,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HD. BNP Paribas Exane reduced their target price on Home Depot from $348.00 to $325.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 19th. Weiss Ratings upgraded Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 9th. TD Cowen reduced their target price on Home Depot from $450.00 to $375.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Evercore reduced their target price on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Finally, Oppenheimer reduced their target price on Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a research note on Monday, May 18th. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $371.71.

Home Depot Stock Performance

Shares of Home Depot stock opened at $327.69 on Thursday. The firm has a market cap of $326.74 billion, a P/E ratio of 23.27, a P/E/G ratio of 3.89 and a beta of 0.97. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The stock's fifty day moving average price is $322.94 and its 200-day moving average price is $346.63.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a dividend of $2.33 per share. The ex-dividend date is Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. Home Depot's dividend payout ratio (DPR) is currently 66.19%.

About Home Depot

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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