CenterBook Partners LP Acquires New Position in The Home Depot, Inc. $HD

Key Points

• CenterBook Partners LP initiated a new position in Home Depot in the fourth quarter, buying 29,763 shares valued at about $10.24 million.
• Several other hedge funds also added to or adjusted their Home Depot holdings, and institutional investors now own 70.86% of the company.
• Home Depot reported better-than-expected quarterly earnings with EPS of $3.43 and revenue of $41.77 billion, while analysts still maintain a Moderate Buy consensus with an average target price of $371.36.

CenterBook Partners LP acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,763 shares of the home improvement retailer's stock, valued at approximately $10,241,000.

A number of other hedge funds have also recently modified their holdings of the company. Curio Wealth LLC grew 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 valued at $76,000 after purchasing an additional 26 shares during the period. Westfuller Advisors LLC lifted its position in Home Depot by 2.1% in the fourth quarter. Westfuller Advisors LLC now owns 1,325 shares of the home improvement retailer's stock valued at $456,000 after buying an additional 27 shares during the last quarter. Darwin Wealth Management LLC lifted its position in Home Depot by 0.5% in the fourth quarter. Darwin Wealth Management LLC now owns 4,949 shares of the home improvement retailer's stock valued at $1,703,000 after buying an additional 27 shares during the last quarter. Alesco Advisors LLC lifted its position in Home Depot by 3.2% in the fourth quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer's stock valued at $298,000 after buying an additional 27 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida lifted its position in Home Depot by 1.3% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock valued at $749,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Home Depot from $409.00 to $390.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. TD Cowen decreased their target price on shares of Home Depot from $450.00 to $375.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. UBS Group decreased their target price on shares of Home Depot from $450.00 to $430.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Citigroup decreased their target price on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company decreased their target price on shares of Home Depot from $375.00 to $360.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $371.36.

Home Depot Stock Down 0.0%

HD stock opened at $310.73 on Monday. The company's 50 day moving average price is $322.95 and its 200 day moving average price is $347.66. 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 Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The firm has a market capitalization of $309.83 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 3.59 and a beta of 0.97.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same period in the prior year, the firm earned $3.56 earnings per share. The business's quarterly 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. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, June 4th. Home Depot's dividend payout ratio is presently 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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