Mirae Asset Global Investments Co. Ltd. Boosts Stake in The Home Depot, Inc. $HD

Key Points

• Mirae Asset Global Investments increased its Home Depot stake by 24.5% in the second quarter, adding 132,417 shares to reach 673,912 shares valued at approximately $237.7 million. Institutional investors collectively own 70.86% of HD.
• Analysts maintain a generally positive outlook, with 18 Buy, 13 Hold and one Sell rating and a consensus price target of $373.18. However, several firms have reduced their targets amid concerns over high interest rates, weak housing activity, margin pressure and potentially limited recovery in renovation demand.
• Home Depot’s latest quarter slightly exceeded expectations, with $3.43 EPS and $41.77 billion in revenue, while revenue grew 4.8% year over year. The company also pays a quarterly dividend of $2.33, equivalent to a 2.8% yield, though its CEO’s medical leave and elevated valuation could remain investor concerns.

Mirae Asset Global Investments Co. Ltd. increased its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 24.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 673,912 shares of the home improvement retailer's stock after purchasing an additional 132,417 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Home Depot worth $237,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HD. Curio Wealth LLC increased its position in Home Depot by 13.5% in the fourth quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock worth $76,000 after buying an additional 26 shares in the last quarter. Alesco Advisors LLC raised its stake in shares of Home Depot by 3.2% in the fourth quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer's stock worth $298,000 after buying an additional 27 shares during the period. Canandaigua National Trust Co of Florida lifted its position in shares of Home Depot by 1.3% during the 4th quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock valued at $749,000 after buying an additional 27 shares in the last quarter. Moneco Advisors LLC lifted its position in shares of Home Depot by 0.3% during the 4th quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer's stock valued at $3,008,000 after buying an additional 27 shares in the last quarter. Finally, Noesis Capital Mangement Corp lifted its position in shares of Home Depot by 1.5% during the 4th quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer's stock valued at $609,000 after buying an additional 27 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

More Home Depot News

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

• Positive Sentiment: Analysts expect second-quarter sales and earnings growth, supported by continued momentum among professional customers (“Pros”) and gains in digital sales. Wells Fargo also raised its price target to $400, suggesting potential upside if Home Depot delivers a solid report. Home Depot to Post Q2 Earnings Wells Fargo Raises Home Depot Price Target
• Positive Sentiment: Home Depot’s long record of dividend payments may provide support for income-focused investors, while the bankruptcy filing of a smaller hardware rival could modestly reinforce the company’s scale and competitive position. Home Depot Dividend Streak Hardware Rival Files Chapter 11
• Neutral Sentiment: The company’s finance chief Richard McPhail and another senior executive will help manage operations during Decker’s absence. The arrangement limits immediate disruption, but investors may seek more clarity on the duration of the leave and its effect on strategy. Home Depot Executives Step Up During CEO Leave
• Negative Sentiment: Oppenheimer and other analysts caution that second-quarter results may show little evidence of a recovery. High interest rates, weak housing activity, margin pressure and rising fuel costs are weighing on renovation demand and retailer expenses. Home Depot and Lowe’s Results Face Macro Pressures
• Negative Sentiment: Several previews argue that HD may already be priced for a recovery, increasing the risk of a negative reaction if sales, margins or management guidance disappoint. Bernstein has maintained a Hold rating. Home Depot Q2 Earnings Preview Bernstein Maintains Hold Rating

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HD shares. Truist Financial reduced their target price on shares of Home Depot from $394.00 to $369.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Robert W. Baird decreased their target price on shares of Home Depot from $430.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a report on Tuesday, June 2nd. BNP Paribas Exane dropped their price target on shares of Home Depot from $348.00 to $325.00 and set a "neutral" rating for the company in a research report on Tuesday, May 19th. Finally, Sanford C. Bernstein set a $344.00 price objective on shares of Home Depot in a research note on Wednesday. Eighteen equities 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $373.18.

Home Depot Stock Performance

HD opened at $338.21 on Monday. The stock has a market capitalization of $337.23 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 4.08 and a beta of 0.95. The company has a fifty day moving average of $339.17 and a 200 day moving average of $341.53. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. The company had revenue of $41.77 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot's payout ratio is 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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