Cornerstone Advisors LLC Makes New $20.37 Million Investment in The Home Depot, Inc. $HD

Cornerstone Advisors LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 57,750 shares of the home improvement retailer's stock, valued at approximately $20,367,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Home Depot during the second quarter worth $28,771,247,000. State Street Corp increased its position in Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock valued at $16,147,010,000 after purchasing an additional 825,164 shares during the period. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.5% in the 4th 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 purchasing an additional 343,153 shares during the last quarter. Bank of America Corp DE increased its holdings in Home Depot by 1.6% in 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 purchasing an additional 250,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 7.8% during the 4th 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 period. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the sale, the chief financial officer directly owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. The trade was a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of Home Depot stock opened at $337.54 on Tuesday. The firm has a market capitalization of $336.56 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The business's 50-day moving average price is $341.02 and its 200-day moving average price is $339.89. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The firm had revenue of $47.86 billion for the quarter, compared to analysts' expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $4.68 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 14.99 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot's payout ratio is presently 65.22%.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Jefferies Financial Group restated a "buy" rating and issued a $398.00 target price on shares of Home Depot in a research note on Tuesday, August 18th. Wells Fargo & Company increased their price objective on shares of Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Argus restated a "buy" rating and issued a $400.00 price objective on shares of Home Depot in a research note on Wednesday, August 19th. Evercore decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Finally, Mizuho upped their price target on Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Eighteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $375.54.

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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