Confluence Wealth Services Inc. Has $6.96 Million Position in The Home Depot, Inc. $HD

Key Points

• Confluence Wealth Services increased its Home Depot position by 28.8% in the second quarter, acquiring 4,408 additional shares for a total holding of 19,731 shares valued at approximately $6.96 million.
• Home Depot reported quarterly EPS of $3.43, slightly above expectations, while revenue reached $41.77 billion, up 4.8% year over year. The company also maintains a $2.33 quarterly dividend, equivalent to a 2.8% yield.
• Analysts hold a broadly positive view, with a “Moderate Buy” consensus and an average price target of $373.18 versus a share price around $338.21. However, high interest rates, weak housing activity, margin pressure and concerns that the stock already prices in a recovery remain risks.

Confluence Wealth Services Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 28.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,731 shares of the home improvement retailer's stock after buying an additional 4,408 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Home Depot were worth $6,958,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Home Depot by 1.3% during 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 purchasing an additional 1,325,748 shares during the last quarter. State Street Corp grew its stake in shares of Home Depot by 1.8% in the fourth quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock valued at $16,147,010,000 after buying an additional 825,164 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Home Depot by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock valued at $8,151,344,000 after buying an additional 343,153 shares in the last quarter. Bank of America Corp DE increased its holdings in Home Depot by 1.6% during the first quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer's stock worth $5,365,629,000 after buying an additional 250,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer's stock worth $5,323,620,000 after buying an additional 1,113,114 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.2%

Shares of NYSE HD opened at $338.21 on Monday. The stock has a market capitalization of $337.23 billion, a P/E ratio of 24.02, a PEG ratio of 4.08 and a beta of 0.95. The stock's fifty day moving average is $339.17 and its 200 day moving average is $341.53. 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 3.23, a quick ratio of 0.28 and a current ratio of 1.04.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.02. The business had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. Home Depot's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on HD. Mizuho dropped their price target on shares of Home Depot from $415.00 to $385.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 20th. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $423.00 to $396.00 and set an "overweight" rating for the company in a research report on Wednesday, May 20th. TD Cowen restated a "buy" rating on shares of Home Depot in a research note on Monday, August 10th. HSBC dropped their target price on shares of Home Depot from $392.00 to $310.00 and set a "hold" rating on the stock in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada raised their target price on shares of Home Depot from $340.00 to $343.00 and gave the company a "sector perform" rating in a research note on Wednesday. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $373.18.

Key Home Depot News

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Analysts expect second-quarter sales and earnings growth, supported by continued momentum among professional customers (“Pros”) and gains in digital sales. Wells Fargo also raised its price target to $400, suggesting potential upside if Home Depot delivers a solid report. Home Depot to Post Q2 Earnings Wells Fargo Raises Home Depot Price Target
• Positive Sentiment: Home Depot’s long record of dividend payments may provide support for income-focused investors, while the bankruptcy filing of a smaller hardware rival could modestly reinforce the company’s scale and competitive position. Home Depot Dividend Streak Hardware Rival Files Chapter 11
• Neutral Sentiment: The company’s finance chief Richard McPhail and another senior executive will help manage operations during Decker’s absence. The arrangement limits immediate disruption, but investors may seek more clarity on the duration of the leave and its effect on strategy. Home Depot Executives Step Up During CEO Leave
• Negative Sentiment: Oppenheimer and other analysts caution that second-quarter results may show little evidence of a recovery. High interest rates, weak housing activity, margin pressure and rising fuel costs are weighing on renovation demand and retailer expenses. Home Depot and Lowe’s Results Face Macro Pressures
• Negative Sentiment: Several previews argue that HD may already be priced for a recovery, increasing the risk of a negative reaction if sales, margins or management guidance disappoint. Bernstein has maintained a Hold rating. Home Depot Q2 Earnings Preview Bernstein Maintains Hold Rating

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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