Caisse de depot et placement du Quebec Takes Position in The Home Depot, Inc. $HD

Key Points

• Caisse de dépôt et placement du Québec acquired 463,944 Home Depot shares in the second quarter, valued at approximately $163.6 million. Institutional investors and hedge funds collectively own 70.86% of the company.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, with revenue up 5.7% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $375.54.
• The company declared a quarterly dividend of $2.33 per share, equal to $9.32 annually and a 2.8% yield. Recent insider activity was negative, with executives selling a combined 9,154 shares worth about $3.13 million over three months.

Caisse de depot et placement du Quebec acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 463,944 shares of the home improvement retailer's stock, valued at approximately $163,624,000.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Home Depot during the 2nd quarter worth approximately $28,771,247,000. Norges Bank acquired a new position in Home Depot during the 4th quarter valued at approximately $4,850,329,000. Bank of New York Mellon Corp purchased a new position in shares of Home Depot in the second quarter worth $2,777,396,000. Legal & General Group Plc purchased a new position in shares of Home Depot in the second quarter worth $1,953,883,000. Finally, Wellington Management Group LLP lifted its stake in shares of Home Depot by 60.8% during the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock worth $4,109,878,000 after buying an additional 3,836,051 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.5%

HD stock opened at $328.52 on Tuesday. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. 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 firm has a market cap of $327.76 billion, a P/E ratio of 22.99, a PEG ratio of 3.64 and a beta of 0.95. The company's 50-day simple moving average is $341.00 and its 200-day simple moving average is $338.03.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 106.42% and a net margin of 8.41%.Home Depot's revenue for the quarter 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. As a group, equities analysts forecast that The Home Depot, Inc. will post 15 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a $2.33 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot's payout ratio is 65.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group dropped their price objective on shares of Home Depot from $430.00 to $420.00 and set a "buy" rating on the stock in a report on Wednesday, August 19th. Evercore reduced their target price on Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Bank of America began coverage on Home Depot in a research report on Tuesday, May 5th. They set a "buy" rating and a $374.00 price target for the company. Sanford C. Bernstein reiterated a "market perform" rating and set a $354.00 price target on shares of Home Depot in a research note on Wednesday, August 19th. Finally, Telsey Advisory Group dropped their price target on Home Depot from $435.00 to $410.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.54.

Insider Activity

In related news, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the sale, the chief financial officer owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 2,455 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $328.77, for a total transaction of $807,130.35. Following the completion of the sale, the executive vice president directly owned 14,061 shares of the company's stock, valued at approximately $4,622,834.97. The trade was a 14.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,154 shares of company stock worth $3,132,798 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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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