Cercano Management LLC Raises Position in The Home Depot, Inc. $HD

Key Points

• Cercano Management LLC boosted its Home Depot stake by 882.5% in the fourth quarter, ending with 23,874 shares valued at about $8.2 million.
• Several other large investors also adjusted holdings, and institutional investors own 70.86% of Home Depot’s stock, highlighting significant Wall Street ownership.
• Home Depot reported Q1 results that beat EPS and revenue estimates, raised its annual guidance, and announced a $2.33 quarterly dividend payable June 18 for a 3.0% yield.

Cercano Management LLC increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 882.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,874 shares of the home improvement retailer's stock after purchasing an additional 21,444 shares during the quarter. Cercano Management LLC's holdings in Home Depot were worth $8,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in HD. Norges Bank purchased a new position in Home Depot in the 4th quarter worth $4,850,329,000. Wellington Management Group LLP grew its holdings in 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 during the last quarter. Vanguard Group Inc. grew its holdings in Home Depot by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock worth $34,284,672,000 after acquiring an additional 1,325,748 shares during the last quarter. Franklin Resources Inc. grew its holdings in Home Depot by 37.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer's stock worth $1,542,278,000 after acquiring an additional 1,040,577 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Home Depot by 215.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,248,615 shares of the home improvement retailer's stock worth $429,648,000 after acquiring an additional 852,719 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Gordon Haskett cut their price target on shares of Home Depot from $330.00 to $320.00 and set a "hold" rating on the stock in a report on Tuesday, May 19th. Oppenheimer cut their price target on shares of Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a report on Monday, May 18th. Daiwa Securities Group raised their price target on shares of Home Depot from $360.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, February 26th. Evercore cut their price target on shares of Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $346.00 price target on shares of Home Depot in a report on Wednesday, May 20th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus target price of $371.39.

Insider Buying and Selling

In other Home Depot news, CFO Richard V. Mcphail sold 2,550 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the transaction, the chief financial officer owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

Home Depot Trading Down 2.1%

Shares of HD opened at $310.58 on Tuesday. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The firm has a market capitalization of $309.68 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 3.66 and a beta of 1.00. The firm's 50-day moving average price is $324.35 and its 200-day moving average price is $349.17. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. During the same period last year, the company posted $3.56 EPS. Home Depot's revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.02 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a $2.33 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.0%. Home Depot's dividend payout ratio (DPR) is presently 66.19%.

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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