Confluence Investment Management LLC Reduces Position in The Home Depot, Inc. $HD

Confluence Investment Management LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,263 shares of the home improvement retailer's stock after selling 8,660 shares during the quarter. Home Depot makes up about 1.7% of Confluence Investment Management LLC's holdings, making the stock its 19th largest position. Confluence Investment Management LLC's holdings in Home Depot were worth $109,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Gator Capital Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $3,693,000. King Luther Capital Management Corp increased its position in Home Depot by 0.6% in 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 during the period. Carnegie Investment Counsel increased its position in Home Depot by 24.8% in the 4th quarter. Carnegie Investment Counsel now owns 108,306 shares of the home improvement retailer's stock valued at $37,268,000 after acquiring an additional 21,545 shares during the period. Savvy Advisors Inc. raised its stake in Home Depot by 36.0% during the 4th quarter. Savvy Advisors Inc. now owns 19,478 shares of the home improvement retailer's stock valued at $6,703,000 after acquiring an additional 5,152 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in Home Depot by 320.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 11,292 shares of the home improvement retailer's stock valued at $3,886,000 after acquiring an additional 8,606 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE HD opened at $339.74 on Tuesday. The stock has a market capitalization of $338.76 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 3.83 and a beta of 0.95. The business's 50 day moving average is $332.95 and its two-hundred day moving average is $343.58. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. 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 posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating the consensus estimate of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The business had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. During the same period last year, the firm earned $3.56 EPS. The company'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. Research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $2.33 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.7%. Home Depot's dividend payout ratio (DPR) is 66.19%.

Analysts Set New Price Targets

Several brokerages have weighed in on HD. Argus lowered their target price on Home Depot from $425.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Robert W. Baird cut 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. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $346.00 price target on shares of Home Depot in a report on Wednesday, May 20th. Gordon Haskett lifted their price objective on shares of Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Finally, Guggenheim reissued a "buy" rating and issued a $425.00 price objective on shares of Home Depot in a research note on Monday, July 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average target price of $371.71.

About Home Depot

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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