CI Investments Inc. Sells 34,295 Shares of The Home Depot, Inc. $HD

Key Points

• CI Investments Inc. reduced its Home Depot stake by 22.1% in the first quarter, selling 34,295 shares and leaving it with 120,601 shares valued at about $39.7 million.
• Home Depot reported solid quarterly results, with EPS of $3.43 and revenue of $41.77 billion, both slightly ahead of analyst expectations. Revenue rose 4.8% year over year.
• Analysts remain cautiously positive on HD, with a consensus rating of “Moderate Buy” and an average price target of $371.71. The stock also pays a quarterly dividend of $2.33, or $9.32 annually, for a 2.8% yield.

CI Investments Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,601 shares of the home improvement retailer's stock after selling 34,295 shares during the period. CI Investments Inc.'s holdings in Home Depot were worth $39,664,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HD. Brighton Jones LLC increased its stake in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Home Depot by 7.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer's stock valued at $952,000 after buying an additional 173 shares in the last quarter. Schnieders Capital Management LLC. boosted its holdings in Home Depot by 14.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer's stock worth $4,248,000 after buying an additional 1,433 shares during the period. Darwin Wealth Management LLC bought a new position in Home Depot in the 2nd quarter worth $1,773,000. Finally, Financial Advisors Network Inc. increased its stake in Home Depot by 11.3% in the 2nd quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer's stock worth $868,000 after buying an additional 241 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

NYSE:HD opened at $331.73 on Wednesday. The company has a market cap of $330.77 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 3.84 and a beta of 0.95. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The stock's 50 day simple moving average is $327.81 and its two-hundred day simple moving average is $345.04. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. The firm had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot's payout ratio is 66.19%.

Analyst Ratings Changes

Several analysts recently issued reports on HD shares. Guggenheim reiterated a "buy" rating and set a $425.00 target price on shares of Home Depot in a research report on Monday. Gordon Haskett lifted their target price on Home Depot from $320.00 to $330.00 in a research note on Friday, June 12th. Weiss Ratings raised Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 7th. 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. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $346.00 price objective on shares of Home Depot in a report on Wednesday, May 20th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $371.71.

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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