Invst LLC Acquires Shares of 3,719 The Home Depot, Inc. $HD

Key Points

• Invst LLC acquired 3,719 Home Depot shares during the second quarter, valued at approximately $1.31 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $375.54, despite several firms recently lowering their targets.
• Home Depot exceeded quarterly earnings and revenue expectations, reporting $4.92 in EPS and $47.86 billion in revenue. The company also declared a quarterly dividend of $2.33 per share, representing a 2.8% annualized yield.

Invst LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,719 shares of the home improvement retailer's stock, valued at approximately $1,312,000.

Several other hedge funds have also recently bought and sold shares of HD. BlackRock Inc. bought a new stake in shares of Home Depot during the 2nd quarter worth approximately $28,771,247,000. State Street Corp increased 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 acquiring an additional 825,164 shares during the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 343,153 shares during the last quarter. Bank of America Corp DE raised its position in Home Depot by 1.6% during the first quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer's stock valued at $5,365,629,000 after purchasing an additional 250,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. JPMorgan Chase & Co. reduced their target price on Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Oppenheimer decreased their price target on 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. BNP Paribas Exane lowered their price target on Home Depot from $348.00 to $325.00 and set a "neutral" rating for the company in a report on Tuesday, May 19th. Stifel Nicolaus upped their price objective on Home Depot from $320.00 to $340.00 and gave the stock a "hold" rating in a research report on Monday, August 17th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Home Depot in a research note on Wednesday, August 19th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $375.54.

Home Depot Trading Down 0.5%

HD opened at $328.52 on Tuesday. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The company has a fifty day moving average of $341.00 and a 200-day moving average of $338.03. The stock has a market cap of $327.76 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 3.64 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, topping analysts' consensus estimates of $4.73 by $0.19. The business had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. Home Depot's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $2.33 per share. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. Home Depot's dividend payout ratio is presently 65.22%.

Insiders Place Their Bets

In other news, EVP Michael F. Rowe sold 710 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $336.76, for a total transaction of $239,099.60. Following the completion of the sale, the executive vice president owned 6,838 shares of the company's stock, valued at $2,302,764.88. This trade represents a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer owned 48,104 shares of the company's stock, valued at $16,759,433.60. This represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 9,154 shares of company stock worth $3,132,798. 0.08% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source