Carmignac Gestion Reduces Holdings in The Home Depot, Inc. $HD

Key Points

• Carmignac Gestion cut its Home Depot stake by 14.2% in the second quarter, selling 4,360 shares and retaining 26,374 shares valued at approximately $9.3 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy, 13 Hold, and one Sell rating. Home Depot has a “Moderate Buy” consensus rating and an average price target of $375.54.
• Home Depot beat quarterly expectations with $4.92 in EPS and $47.86 billion in revenue, while revenue increased 5.7% year over year. The company also declared a $2.33 quarterly dividend, representing a 3.0% annualized yield.

Carmignac Gestion trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,374 shares of the home improvement retailer's stock after selling 4,360 shares during the quarter. Carmignac Gestion's holdings in Home Depot were worth $9,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of HD. Bank of Nova Scotia purchased a new position in shares of Home Depot during the second quarter valued at about $118,723,000. Gator Capital Management LLC purchased a new stake in Home Depot in the fourth quarter worth about $3,693,000. AFT Forsyth & Company Inc. purchased a new stake in Home Depot in the second quarter worth about $1,896,000. Field & Main Bank bought a new stake in Home Depot during the 2nd quarter valued at approximately $6,286,000. Finally, King Luther Capital Management Corp boosted its position in Home Depot by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 1,240,478 shares of the home improvement retailer's stock valued at $426,848,000 after acquiring an additional 7,180 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Citigroup decreased their target price on Home Depot from $450.00 to $400.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Gordon Haskett lifted their price target on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. JPMorgan Chase & Co. reduced their price target on Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Truist Financial increased their price objective on Home Depot from $369.00 to $373.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, TD Cowen reissued a "buy" rating on shares of Home Depot in a research report on Monday, August 10th. Eighteen 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $375.54.

Home Depot Price Performance

HD stock opened at $313.58 on Wednesday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The firm has a 50 day moving average price of $337.98 and a 200-day moving average price of $335.09. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. The firm has a market capitalization of $312.86 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 3.53 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The company 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%.The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders 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 annualized dividend and a dividend yield of 3.0%. Home Depot's dividend payout ratio (DPR) is presently 65.22%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Roseborough sold 2,455 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were 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 in the company, valued at approximately $4,622,834.97. This trade represents a 14.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael F. Rowe sold 710 shares of Home Depot stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares of the company's stock, valued at $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. 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 quarter. 0.08% of the stock is owned by insiders.

About Home Depot

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.

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