Cornerstone Planning LLC Invests $2.76 Million in The Home Depot, Inc. $HD

Key Points

• Cornerstone Planning LLC opened a new position in Home Depot during the fourth quarter, buying 7,987 shares worth about $2.76 million.
• Home Depot remains widely held by institutions, with major firms like Vanguard, State Street, and Geode increasing stakes; institutional investors now own 70.86% of the stock.
• Analysts are mostly positive on HD, with a consensus Moderate Buy rating and average price target of $371.71, while the company also recently reported an earnings beat and paid a quarterly dividend of $2.33 per share.

Cornerstone Planning LLC purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,987 shares of the home improvement retailer's stock, valued at approximately $2,763,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake 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 lifted its stake in 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 purchasing an additional 825,164 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 343,153 shares during the last quarter. Bank of America Corp DE grew its holdings in Home Depot by 5.6% during the fourth quarter. Bank of America Corp DE now owns 16,063,532 shares of the home improvement retailer's stock valued at $5,527,461,000 after purchasing an additional 851,029 shares during the period. Finally, Charles Schwab Investment Management Inc. grew 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 valued at $5,323,620,000 after purchasing an additional 1,113,114 shares during the period. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

HD has been the topic of several research reports. Wall Street Zen upgraded Home Depot from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Bank of America assumed coverage on Home Depot in a research note on Tuesday, May 5th. They set a "buy" rating and a $374.00 price target for the company. Truist Financial decreased their price objective on Home Depot from $394.00 to $369.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Evercore lowered their price objective on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada dropped their price objective on shares of Home Depot from $377.00 to $340.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 20th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $371.71.

Home Depot Trading Up 0.1%

NYSE:HD opened at $334.72 on Monday. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The stock's fifty day moving average price is $323.24 and its two-hundred day moving average price is $346.31. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The company has a market cap of $333.75 billion, a P/E ratio of 23.77, a P/E/G ratio of 3.86 and a beta of 0.97.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share 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 company had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. During the same period in the previous year, the business earned $3.56 earnings per share. The firm'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. As a group, analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

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

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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