Castleark Management LLC Invests $4.09 Million in The Home Depot, Inc. $HD

Key Points

• Castleark Management initiated a $4.09 million position in Home Depot by purchasing 11,590 shares during the second quarter. Institutional investors and hedge funds collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $375.54, despite several recent target-price reductions.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, while revenue increased 5.7% year over year. The company also declared a quarterly dividend of $2.33 per share, representing a 2.8% annualized yield.

Castleark Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,590 shares of the home improvement retailer's stock, valued at approximately $4,088,000.

Other large investors have also bought and sold shares of the company. Curio Wealth LLC lifted its holdings in shares of Home Depot by 13.5% in the fourth quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after acquiring an additional 26 shares during the last quarter. Moneco Advisors LLC grew its holdings in shares of Home Depot by 0.3% during the 4th quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock valued at $3,008,000 after purchasing an additional 27 shares during the last quarter. Noesis Capital Mangement Corp grew its holdings in shares of Home Depot by 1.5% during the 4th quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer's stock valued at $609,000 after purchasing an additional 27 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its position in Home Depot by 1.3% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,130 shares of the home improvement retailer's stock worth $733,000 after purchasing an additional 27 shares in the last quarter. Finally, Mill Capital Management LLC increased its position in Home Depot by 0.4% during the 4th quarter. Mill Capital Management LLC now owns 7,377 shares of the home improvement retailer's stock worth $2,538,000 after purchasing an additional 27 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Home Depot from $422.00 to $421.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. TD Cowen reiterated a "buy" rating on shares of Home Depot in a report on Monday, August 10th. Robert W. Baird dropped their price target on Home Depot from $430.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Stifel Nicolaus raised their price objective on Home Depot from $320.00 to $340.00 and gave the company a "hold" rating in a report on Monday, August 17th. Finally, Evercore cut their price objective on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $375.54.

Home Depot Trading Down 0.5%

Shares of NYSE HD opened at $328.52 on Tuesday. The firm has a 50 day moving average price of $341.00 and a two-hundred day moving average price of $338.03. The stock has a market cap of $327.76 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.95. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping analysts' consensus estimates of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The company had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the previous year, the business earned $4.68 earnings per share. Home Depot's revenue was up 5.7% compared to the same quarter last year. 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 year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 annualized dividend and a yield of 2.8%. Home Depot's payout ratio is presently 65.22%.

Insiders Place Their Bets

In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was 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 in the company, valued at approximately $16,759,433.60. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael F. Rowe sold 710 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the sale, the executive vice president directly owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. The trade was a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,154 shares of company stock valued at $3,132,798. 0.08% of the stock is currently owned by company 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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