Bamco Inc. NY Takes $58.23 Million Position in The Home Depot, Inc. $HD

Key Points

• Bamco Inc. NY purchased 165,104 Home Depot shares during the second quarter, establishing a position valued at approximately $58.23 million. Institutional investors collectively own 70.86% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $375.54. Home Depot recently exceeded quarterly earnings and revenue expectations, reporting $4.92 in EPS and $47.86 billion in revenue.
• Home Depot declared a quarterly dividend of $2.33 per share, equivalent to $9.32 annually and a 2.8% yield. Insiders, however, sold 9,154 shares worth $3.13 million over the past three months.

Bamco Inc. NY bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 165,104 shares of the home improvement retailer's stock, valued at approximately $58,229,000.

A number of other hedge funds also recently made changes to their positions in HD. BlackRock Inc. bought a new position in shares of Home Depot during the 2nd quarter valued at approximately $28,771,247,000. State Street Corp grew its holdings in shares of 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 valued at $16,147,010,000 after purchasing an additional 825,164 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 343,153 shares during the last quarter. Bank of America Corp DE bought a new stake in Home Depot in the second quarter worth $5,780,468,000. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $5,323,620,000 after purchasing an additional 1,113,114 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 2,455 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $328.77, for a total transaction of $807,130.35. Following the transaction, the executive vice president directly owned 14,061 shares of the company's stock, valued at approximately $4,622,834.97. This trade represents a 14.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael F. Rowe sold 710 shares of Home Depot stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total transaction of $239,099.60. Following the sale, the executive vice president directly owned 6,838 shares of the company's stock, valued at $2,302,764.88. This represents a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,154 shares of company stock valued at $3,132,798 in the last three months. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HD shares. Jefferies Financial Group restated a "buy" rating and set a $398.00 target price on shares of Home Depot in a research report on Tuesday, August 18th. Truist Financial lifted their price target on Home Depot from $369.00 to $373.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. The Goldman Sachs Group reduced their price objective on Home Depot from $409.00 to $390.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Wall Street Zen upgraded Home Depot from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $375.54.

Home Depot Stock Performance

HD stock opened at $328.52 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The business's fifty day simple moving average is $341.00 and its two-hundred day simple moving average is $338.03. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve 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.

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, topping the consensus estimate of $4.73 by $0.19. The business had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Analysts predict that The Home Depot, Inc. will post 15 earnings per share 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 dividend of $2.33 per share. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

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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