Harmony Asset Management LLC Trims Stock Position in The Home Depot, Inc. $HD

Harmony Asset Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 34.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,028 shares of the home improvement retailer's stock after selling 4,762 shares during the period. Harmony Asset Management LLC's holdings in Home Depot were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Advocate Investing Services LLC purchased a new position in shares of Home Depot during the 4th quarter valued at about $25,000. Parvin Asset Management LLC boosted its stake in shares of Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock worth $26,000 after buying an additional 33 shares during the last quarter. Cache Advisors LLC purchased a new stake in shares of Home Depot in the first quarter worth about $27,000. Key Capital Management INC acquired a new stake in Home Depot during the fourth quarter worth about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in Home Depot during the first quarter worth about $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD opened at $343.96 on Thursday. The stock has a market capitalization of $342.97 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 4.26 and a beta of 0.95. The stock has a 50-day moving average of $338.00 and a 200 day moving average of $342.17. 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 twelve month low of $289.10 and a twelve month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating the consensus estimate of $3.41 by $0.02. The company had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.Home Depot's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot's dividend payout ratio (DPR) is 66.19%.

Key Stories Impacting Home Depot

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

• Positive Sentiment: Wells Fargo raised its Home Depot price target to $400 from $360 and maintained an “overweight” rating, citing potential upside if the company’s recovery gains traction. Wells Fargo raises Home Depot price target
• Positive Sentiment: Some analysts expect Home Depot to surpass quarterly estimates, pointing to its history of earnings surprises and favorable earnings indicators. Consensus expectations call for approximately $4.73 in earnings per share and $47.24 billion in revenue for the quarter. Home Depot earnings beat outlook
• Neutral Sentiment: Decker is expected to return within a few months. During his absence, Senior Executive Vice President Ann-Marie Campbell and CFO Richard McPhail will oversee operations and financial management, providing an established interim leadership structure. Home Depot interim management announcement
• Negative Sentiment: The CEO’s medical leave introduces execution and strategic-continuity concerns just before earnings. Investors will focus on whether interim management changes the company’s outlook or commentary on consumer demand and home-improvement spending. Home Depot CEO medical leave
• Negative Sentiment: Commentary from The Motley Fool argues that HD is priced for a recovery that may arrive too soon, recommending caution ahead of the earnings release. That valuation concern could amplify pressure if results or guidance disappoint. Should You Buy Home Depot Stock Before Aug. 18?

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised Home Depot from a "sell" rating to a "hold" rating in a report on Tuesday, June 2nd. UBS Group dropped their price objective on shares of Home Depot from $450.00 to $430.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Argus cut their target price on shares of Home Depot from $425.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, May 21st. Wells Fargo & Company boosted their target price on shares of Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Morgan Stanley lowered their price target on shares of Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $373.18.

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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