Fisher Funds Management LTD Reduces Stake in The Home Depot, Inc. $HD

Key Points

• Fisher Funds Management LTD cut its Home Depot stake by 19.2% in the first quarter, selling 12,329 shares and leaving it with 51,973 shares worth about $17.1 million.
• Home Depot reported better-than-expected quarterly results, with EPS of $3.43 versus $3.41 expected and revenue of $41.77 billion versus $41.59 billion expected. The company also reaffirmed FY 2026 EPS guidance at 14.690-15.278.
• The stock continues to draw mixed analyst views, but the overall consensus remains Moderate Buy with an average target price of $371.71. Institutional investors still own a large majority of the company at 70.86%.

Fisher Funds Management LTD lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,973 shares of the home improvement retailer's stock after selling 12,329 shares during the period. Fisher Funds Management LTD's holdings in Home Depot were worth $17,093,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at about $4,850,329,000. Wellington Management Group LLP lifted its stake in shares of Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares during the period. Cardano Risk Management B.V. lifted its stake in shares of Home Depot by 901.5% in the 4th quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer's stock worth $1,132,275,000 after purchasing an additional 2,961,979 shares during the period. J. Stern & Co. LLP grew its position in Home Depot by 14,869.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer's stock valued at $768,210,000 after buying an additional 2,217,607 shares during the period. Finally, Parnassus Investments LLC grew its position in Home Depot by 712.3% during the fourth quarter. Parnassus Investments LLC now owns 2,080,538 shares of the home improvement retailer's stock valued at $715,913,000 after buying an additional 1,824,409 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

NYSE:HD opened at $326.93 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The stock has a 50-day moving average price of $322.99 and a 200 day moving average price of $346.12. The stock has a market capitalization of $325.98 billion, a P/E ratio of 23.22, a P/E/G ratio of 3.86 and a beta of 0.97.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (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 company had revenue of $41.77 billion for the quarter, compared to the consensus estimate of $41.59 billion. During the same quarter last year, the company earned $3.56 EPS. The firm's quarterly 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. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. Home Depot's dividend payout ratio (DPR) is presently 66.19%.

More Home Depot News

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

• Positive Sentiment: Several articles highlight Home Depot’s margin resilience, strong Pro business, and strategic expansion, suggesting the company may be able to offset a weak housing backdrop better than expected. Can Margin Strength Offset Demand Challenges at Home Depot?
• Positive Sentiment: Analysts and market commentators continue to frame HD as a resilient dividend and quality stock, with some pointing to improved investment appeal thanks to dividend consistency and stable profitability. How Dividend Consistency and Margin Resilience At Home Depot (HD) Have Changed Its Investment Story
• Positive Sentiment: Some recent commentary argues Home Depot could benefit from a residential recovery, especially if lower home prices eventually spur more renovation activity. Here is why The Home Depot, Inc. (HD) is among the Best Building Materials Stocks to Buy for the Residential Recovery
• Neutral Sentiment: Home Depot’s latest reported quarter beat expectations modestly, with revenue and EPS both slightly ahead of estimates, but growth remains modest versus last year.
• Neutral Sentiment: Several market pieces note that HD still looks resilient despite a muted home-improvement backdrop, but these articles mainly reinforce the current valuation and chart setup rather than introducing a new catalyst. Home Depot: A New Corporate Focus, But Familiar Valuation And Chart Stories
• Negative Sentiment: The main bearish theme is still soft demand: one article says Home Depot “still needs to do more,” implying the market wants clearer improvement in customer spending before re-rating the stock. Home Depot: Demand Still Needs To Do More
• Negative Sentiment: Higher interest rates remain a headwind for home-improvement retailers, and one report noted HD and Lowe’s fell after the Fed held rates steady, underscoring investor concern that housing-related spending may stay sluggish. Why Home Depot and Lowe's fell after the Fed held interest rates steady

Analyst Ratings Changes

A number of analysts have commented on HD shares. Daiwa Securities Group upped their target price on shares of Home Depot from $360.00 to $390.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. DA Davidson cut their price objective on shares of Home Depot from $445.00 to $377.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Oppenheimer reduced their price objective on Home Depot from $405.00 to $310.00 and set a "market perform" rating for the company in a research note on Monday, May 18th. Morgan Stanley reduced their price objective on Home Depot from $420.00 to $400.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $425.00 target price on shares of Home Depot in a report on Wednesday, May 20th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $371.71.

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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