L2 Asset Management LLC Acquires New Position in The Home Depot, Inc. $HD

L2 Asset Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,729 shares of the home improvement retailer's stock, valued at approximately $2,021,000.

A number of other institutional investors also recently bought and sold shares of the company. Curio Wealth LLC increased its holdings in shares of Home Depot by 13.5% during the 4th quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after buying an additional 26 shares during the last quarter. Moneco Advisors LLC grew its position in Home Depot by 0.3% in the fourth quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock worth $3,008,000 after acquiring an additional 27 shares during the period. Noesis Capital Mangement Corp increased its stake in Home Depot by 1.5% during the fourth quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer's stock worth $609,000 after acquiring an additional 27 shares during the last quarter. Eubel Brady & Suttman Asset Management Inc. increased its position in shares of Home Depot by 1.3% during the 4th quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,130 shares of the home improvement retailer's stock worth $733,000 after purchasing an additional 27 shares during the last quarter. Finally, Mill Capital Management LLC increased its position in shares of Home Depot by 0.4% during the 4th quarter. Mill Capital Management LLC now owns 7,377 shares of the home improvement retailer's stock worth $2,538,000 after purchasing an additional 27 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HD shares. TD Cowen reaffirmed a "buy" rating on shares of Home Depot in a research report on Monday, August 10th. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. HSBC decreased their price objective on shares of Home Depot from $392.00 to $310.00 and set a "hold" rating on the stock in a report on Wednesday, May 20th. Truist Financial lifted their target price on shares of Home Depot from $369.00 to $373.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, Morgan Stanley decreased their price target on Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $375.54.

Insiders Place Their Bets

In related news, CFO Richard V. Mcphail sold 5,989 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the completion of the sale, the chief financial officer owned 48,104 shares in the company, valued at $16,759,433.60. This represents a 11.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael F. Rowe sold 710 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the sale, the executive vice president owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company's stock.

Key Home Depot News

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

• Positive Sentiment: Home Depot reported fiscal second-quarter sales of $47.86 billion, up 5.7% year over year and its strongest comparable-sales growth since 2022. Adjusted earnings of $4.92 per share exceeded the $4.73 analyst consensus, reinforcing the view that the retailer’s turnaround is gaining traction. The Home Depot Posts Record Sales Growth Amid CEO Leave
• Positive Sentiment: The company expanded its Magic Apron AI shopping assistant to every U.S. store. The tool provides localized product information, project guidance and store navigation through text, voice, images and multiple languages. Its potential to improve customer service, employee productivity and conversion rates supports the long-term growth narrative. The Home Depot Expands Magic Apron
• Neutral Sentiment: Analysts and recent commentary see significant upside if housing and remodeling demand recover, with Home Depot’s scale and professional-customer base viewed as competitive advantages. However, the stock remains below its 50-day and 200-day moving averages, indicating that investors have not fully embraced the turnaround thesis. Home Depot Turnaround Could Be Bigger Than Investors Expect
• Neutral Sentiment: Although Home Depot beat quarterly estimates, a reported $685 million tariff refund may have boosted results. Investors could discount part of the earnings strength if the benefit is viewed as nonrecurring. Home Depot Beat Q2 Estimates
• Negative Sentiment: CEO Ted Decker is on temporary medical leave, creating uncertainty around leadership even as operating performance improves. Separately, EVP Michael Rowe sold 710 shares valued at approximately $239,100, a relatively small transaction but a modest negative sentiment signal. Home Depot EVP Michael Rowe Sells Shares

Home Depot Trading Down 0.1%

Shares of HD stock opened at $329.80 on Monday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The stock has a market capitalization of $329.04 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 3.64 and a beta of 0.95. The company has a 50 day moving average price of $340.97 and a 200 day moving average price of $338.46. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot's dividend payout ratio (DPR) is 65.22%.

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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