KMG Fiduciary Partners LLC Boosts Stock Position in The Home Depot, Inc. $HD

Key Points

• KMG Fiduciary Partners increased its Home Depot position by 90% in the second quarter, purchasing 5,678 additional shares and bringing its holdings to 11,985 shares valued at approximately $4.23 million. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” from 32 analysts and an average price target of $371.71.
• Home Depot slightly exceeded quarterly expectations, reporting $3.43 in EPS and $41.77 billion in revenue, while revenue grew 4.8% year over year. The company also paid a quarterly dividend of $2.33 per share, representing a 2.7% annualized yield.

KMG Fiduciary Partners LLC increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 90.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,985 shares of the home improvement retailer's stock after purchasing an additional 5,678 shares during the quarter. KMG Fiduciary Partners LLC's holdings in Home Depot were worth $4,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Home Depot by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock worth $34,284,672,000 after buying an additional 1,325,748 shares during the period. State Street Corp increased its stake in shares of Home Depot by 1.8% during 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 buying an additional 825,164 shares during the period. Geode Capital Management LLC increased its stake in shares of Home Depot by 1.5% during 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 buying an additional 343,153 shares during the period. Bank of America Corp DE raised its holdings in shares of 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 acquiring an additional 250,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 1,113,114 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating for the company in a research note on Wednesday, May 20th. UBS Group decreased their price objective on shares of Home Depot from $450.00 to $430.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Evercore decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Jefferies Financial Group cut their target price on shares of Home Depot from $361.00 to $360.00 and set a "buy" rating on the stock in a research note on Thursday, June 4th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Home Depot in a research note on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $371.71.

Home Depot Stock Performance

Shares of Home Depot stock opened at $350.23 on Tuesday. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The firm's 50-day moving average is $336.54 and its 200 day moving average is $342.65. The stock has a market cap of $349.22 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 4.11 and a beta of 0.95. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. The business had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. Home Depot's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business earned $3.56 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, June 4th. Home Depot's payout ratio is presently 66.19%.

Home Depot Company 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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