Forum Financial Management LP Has $4.10 Million Stock Position in The Home Depot, Inc. $HD

Key Points

• Forum Financial Management LP reduced its Home Depot stake by 26% in the first quarter, selling 4,369 shares and leaving it with 12,456 shares worth about $4.10 million.
• Home Depot’s stock continues to attract major institutional interest, with 70.86% of shares held by institutional investors and hedge funds. Several firms also recently increased their positions.
• Analysts remain broadly positive: Home Depot has a “Moderate Buy” consensus rating, an average price target of $371.71, and recently reported quarterly earnings and revenue that slightly beat expectations.

Forum Financial Management LP cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 26.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,456 shares of the home improvement retailer's stock after selling 4,369 shares during the period. Forum Financial Management LP's holdings in Home Depot were worth $4,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Drucker Wealth 3.0 LLC increased its holdings in shares of Home Depot by 0.8% in the first quarter. Drucker Wealth 3.0 LLC now owns 7,322 shares of the home improvement retailer's stock worth $2,408,000 after acquiring an additional 60 shares in the last quarter. Brown Miller Wealth Management LLC grew its position in shares of Home Depot by 2.9% in the 1st quarter. Brown Miller Wealth Management LLC now owns 1,962 shares of the home improvement retailer's stock valued at $645,000 after purchasing an additional 56 shares during the period. EWA LLC grew its position in shares of Home Depot by 14.7% in the 1st quarter. EWA LLC now owns 1,645 shares of the home improvement retailer's stock valued at $541,000 after purchasing an additional 211 shares during the period. Simmons Bank increased its stake in Home Depot by 0.8% during the 1st quarter. Simmons Bank now owns 26,658 shares of the home improvement retailer's stock worth $8,768,000 after purchasing an additional 201 shares in the last quarter. Finally, Investment Planning Advisors Inc. increased its stake in Home Depot by 32.9% during the 1st quarter. Investment Planning Advisors Inc. now owns 1,031 shares of the home improvement retailer's stock worth $339,000 after purchasing an additional 255 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of Home Depot from $375.00 to $360.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Gordon Haskett increased their price objective on shares of Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $346.00 target price on shares of Home Depot in a research note on Wednesday, May 20th. Telsey Advisory Group lowered their target price on Home Depot from $435.00 to $410.00 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Finally, Piper Sandler dropped their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $371.71.

Home Depot Price Performance

NYSE HD opened at $352.57 on Wednesday. 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 12-month low of $289.10 and a 12-month high of $426.75. The company has a market capitalization of $351.55 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 4.05 and a beta of 0.97. The firm's 50 day moving average is $323.32 and its 200-day moving average is $345.80.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. 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 previous year, the firm posted $3.56 earnings per share. The firm's revenue for the quarter 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 anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.6%. Home Depot's payout ratio is 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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