Cardinal Capital Management Inc. Grows Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Cardinal Capital Management increased its Home Depot holdings by 26.3% in the second quarter, ending with 120,109 shares valued at approximately $42.36 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $373.14. Eighteen analysts rate the stock a Buy, compared with 13 Holds and one Sell.
• Home Depot reported quarterly earnings of $3.43 per share and revenue of $41.77 billion, narrowly exceeding estimates, while its quarterly dividend equates to an annualized $9.32 per share and a 2.6% yield.

Cardinal Capital Management Inc. lifted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 26.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,109 shares of the home improvement retailer's stock after acquiring an additional 25,048 shares during the period. Home Depot accounts for about 1.0% of Cardinal Capital Management Inc.'s portfolio, making the stock its 28th biggest holding. Cardinal Capital Management Inc.'s holdings in Home Depot were worth $42,360,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 buying an additional 1,325,748 shares during the last quarter. State Street Corp boosted its position in shares of Home Depot by 1.8% during the fourth quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock worth $16,147,010,000 after acquiring an additional 825,164 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.5% during 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 acquiring an additional 343,153 shares during the last quarter. Bank of America Corp DE grew its stake in Home Depot by 1.6% during the first quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer's stock valued at $5,365,629,000 after acquiring an additional 250,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew 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 acquiring an additional 1,113,114 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America initiated coverage on shares of Home Depot in a research note on Tuesday, May 5th. They issued a "buy" rating and a $374.00 price target on the stock. DA Davidson restated a "buy" rating and set a $377.00 price objective on shares of Home Depot in a research report on Monday, July 27th. Evercore reduced their target price on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Argus decreased their target price on Home Depot from $425.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Finally, The Goldman Sachs Group dropped their price target on Home Depot from $409.00 to $390.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $373.14.

Home Depot Price Performance

Shares of Home Depot stock opened at $353.65 on Wednesday. The stock has a market cap of $352.63 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 4.05 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 stock has a 50 day moving average price of $337.39 and a 200-day moving average price of $342.43. The Home Depot, Inc. has a one year low of $289.10 and a one year high of $426.75.

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. The company 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%.Home Depot's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. Home Depot's dividend payout ratio is currently 66.19%.

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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