Cardano Risk Management B.V. Reduces Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Cardano Risk Management B.V. cut its Home Depot stake by 89.5% in the first quarter, selling nearly 2.95 million shares and leaving it with 345,358 shares worth about $113.6 million.
• Home Depot reported better-than-expected quarterly results, with EPS of $3.43 versus $3.41 expected and revenue of $41.77 billion, up 4.8% from a year earlier.
• The company paid a $2.33 quarterly dividend and now offers an annualized yield of about 2.7%; analysts currently rate the stock Moderate Buy with an average price target of $371.71.

Cardano Risk Management B.V. reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 89.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,358 shares of the home improvement retailer's stock after selling 2,945,182 shares during the period. Home Depot makes up about 1.1% of Cardano Risk Management B.V.'s holdings, making the stock its 27th largest holding. Cardano Risk Management B.V.'s holdings in Home Depot were worth $113,584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HD. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter valued at about $4,850,329,000. Wellington Management Group LLP grew its position in shares of Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock worth $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. J. Stern & Co. LLP boosted its stake in Home Depot by 14,869.3% during the 4th quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer's stock valued at $768,210,000 after purchasing an additional 2,217,607 shares during the period. Parnassus Investments LLC lifted its position in Home Depot by 712.3% in the fourth quarter. Parnassus Investments LLC now owns 2,080,538 shares of the home improvement retailer's stock worth $715,913,000 after purchasing an additional 1,824,409 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after purchasing an additional 1,325,748 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 1.0%

NYSE:HD opened at $348.60 on Friday. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The stock's fifty day moving average price is $322.98 and its two-hundred day moving average price is $345.78. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The company has a market cap of $347.60 billion, a P/E ratio of 24.76, a P/E/G ratio of 3.98 and a beta of 0.97.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot's dividend payout ratio (DPR) is 66.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley lowered their target price on Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Royal Bank Of Canada reduced their price target on Home Depot from $377.00 to $340.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 20th. BNP Paribas Exane cut their price objective on shares of Home Depot from $348.00 to $325.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 19th. Piper Sandler dropped their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $346.00 target price on shares of Home Depot 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $371.71.

Home Depot 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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