Fifth Third Bancorp Buys 541,339 Shares of The Home Depot, Inc. $HD

Key Points

• Fifth Third Bancorp increased its Home Depot stake by 59.1% in the first quarter, buying 541,339 additional shares and bringing its total holdings to 1,457,243 shares valued at about $479.3 million.
• Several other institutional investors also added to or established positions in Home Depot, and overall 70.86% of the stock is held by hedge funds and other institutions.
• Analysts remain broadly positive on Home Depot despite some price-target cuts, with a consensus rating of “Moderate Buy” and an average target price of $371.71. The stock was trading up 1.4% at $343.44, while the company also reported better-than-expected quarterly earnings and declared a $2.33 quarterly dividend.

Fifth Third Bancorp grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 59.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,457,243 shares of the home improvement retailer's stock after buying an additional 541,339 shares during the period. Home Depot accounts for approximately 0.9% of Fifth Third Bancorp's holdings, making the stock its 18th biggest position. Fifth Third Bancorp owned 0.15% of Home Depot worth $479,273,000 at the end of the most recent quarter.

Several other institutional investors also recently 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 position in Home Depot by 7.1% in the second quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer's stock worth $952,000 after buying an additional 173 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Home Depot by 14.1% during the second quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer's stock valued at $4,248,000 after buying an additional 1,433 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Home Depot in the second quarter worth about $1,773,000. Finally, Financial Advisors Network Inc. increased its holdings in Home Depot by 11.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer's stock worth $868,000 after purchasing an additional 241 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HD. Evercore decreased their price objective on Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Telsey Advisory Group lowered their price target on Home Depot from $435.00 to $410.00 and set an "outperform" rating for the company in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Oppenheimer dropped their price objective on shares of Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a research note on Monday, May 18th. Finally, DA Davidson cut their price target on Home Depot from $445.00 to $377.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $371.71.

Home Depot Trading Up 1.4%

NYSE:HD traded up $4.71 during trading hours on Friday, reaching $343.44. 2,747,430 shares of the stock were exchanged, compared to its average volume of 4,667,555. The business has a 50-day moving average of $325.05 and a two-hundred day moving average of $345.46. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75. The company has a market capitalization of $342.45 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 3.96 and a beta of 0.95.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $41.59 billion. During the same quarter in the prior year, the company earned $3.56 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, June 4th. Home Depot's dividend payout ratio is currently 66.19%.

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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