Occidental Asset Management LLC Purchases New Position in The Home Depot, Inc. $HD

Key Points

• Occidental Asset Management purchased 17,041 Home Depot shares worth approximately $6.01 million in the second quarter, while institutional investors and hedge funds collectively own 70.86% of the stock.
• Analysts maintain a “Moderate Buy” consensus on HD, with an average price target of $375.54; individual targets range from $354 to $425.
• Home Depot exceeded quarterly earnings and revenue expectations, reporting $4.92 in EPS and $47.86 billion in revenue, and declared a quarterly dividend of $2.33 per share, representing a 2.8% annualized yield.

Occidental Asset Management LLC purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,041 shares of the home improvement retailer's stock, valued at approximately $6,010,000.

Several other institutional investors also recently bought and sold shares of HD. Advocate Investing Services LLC purchased a new position in Home Depot during the fourth quarter valued at $25,000. Zeit Capital LLC purchased a new stake in shares of Home Depot during the second quarter worth about $26,000. Parvin Asset Management LLC increased its stake in shares of Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock worth $26,000 after purchasing an additional 33 shares in the last quarter. Cache Advisors LLC acquired a new position in shares of Home Depot during the 1st quarter worth about $27,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Home Depot in the 1st quarter valued at about $28,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on HD shares. Wells Fargo & Company increased their target price on Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. 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 report on Wednesday, May 20th. Guggenheim restated a "buy" rating and issued a $425.00 price objective on shares of Home Depot in a report on Wednesday, August 19th. Telsey Advisory Group lowered their target price on shares of Home Depot from $435.00 to $410.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $354.00 price target 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 issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.54.

Home Depot Stock Up 0.6%

Shares of HD opened at $337.54 on Tuesday. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75. The company has a market capitalization of $336.56 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95. The stock has a fifty day simple moving average of $341.02 and a two-hundred day simple moving average of $339.89. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The business had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the previous year, the firm earned $4.68 EPS. The company's quarterly revenue 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. As a group, equities analysts forecast that The Home Depot, Inc. will post 14.99 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be issued 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 currently 65.22%.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction that occurred 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 sale, the chief financial officer owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

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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