Mission Wealth Management LP Purchases 5,560 Shares of The Home Depot, Inc. $HD

Key Points

• Mission Wealth Management increased its Home Depot position by 15.1% in the second quarter, purchasing 5,560 additional shares and bringing its holdings to 42,429 shares valued at approximately $14.96 million.
• Analysts maintain a generally positive outlook, with Home Depot receiving a consensus “Moderate Buy” rating and an average price target of $373.18; Wells Fargo recently raised its target to $400.
• Home Depot’s latest quarter modestly exceeded expectations, while the company offers a $2.33 quarterly dividend, equivalent to a 2.7% yield. However, CEO medical leave and concerns that the stock is already priced for a recovery present near-term risks.

Mission Wealth Management LP grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 15.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,429 shares of the home improvement retailer's stock after buying an additional 5,560 shares during the period. Mission Wealth Management LP's holdings in Home Depot were worth $14,964,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Advocate Investing Services LLC bought a new position in Home Depot during the fourth quarter worth about $25,000. Parvin Asset Management LLC increased its holdings 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 acquiring an additional 33 shares in the last quarter. Cache Advisors LLC bought a new stake in shares of Home Depot in the first quarter worth about $27,000. Key Capital Management INC bought a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Home Depot during the first quarter worth about $28,000. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Oppenheimer cut their price objective on Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a report on Monday, May 18th. BNP Paribas Exane dropped their target price on shares of Home Depot from $348.00 to $325.00 and set a "neutral" rating on the stock in a report on Tuesday, May 19th. DA Davidson restated a "buy" rating and set a $377.00 target price on shares of Home Depot in a report on Monday, July 27th. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, Bank of America began coverage on shares of Home Depot in a report on Tuesday, May 5th. They issued a "buy" rating and a $374.00 price target for the company. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $373.18.

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?

Home Depot Stock Down 3.0%

NYSE:HD opened at $343.96 on Thursday. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04. The company has a market cap of $342.97 billion, a PE ratio of 24.43, a PEG ratio of 4.26 and a beta of 0.95. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. The stock has a 50-day simple moving average of $338.00 and a 200 day simple moving average of $342.17.

Home Depot (NYSE:HD - Get Free Report) last announced its 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 business 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 revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot's dividend payout ratio is presently 66.19%.

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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