Penobscot Investment Management Company Inc. Trims Stock Position in The Home Depot, Inc. $HD

Key Points

• Penobscot Investment Management reduced its Home Depot position by 19.7% in the second quarter, selling 8,019 shares and retaining 32,628 shares valued at approximately $11.5 million.
• Home Depot’s latest quarter exceeded expectations, with adjusted EPS of $4.92 versus $4.73 expected and revenue up 5.7% year over year to $47.86 billion. Comparable sales increased 1.7%, supported by repair demand, professional customers and digital growth.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $375.54, compared with a recent price near $343.91.

Penobscot Investment Management Company Inc. lessened its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 19.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,628 shares of the home improvement retailer's stock after selling 8,019 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Home Depot were worth $11,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Advocate Investing Services LLC purchased a new position in shares of Home Depot during the fourth quarter worth approximately $25,000. Parvin Asset Management LLC raised its position in Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock valued at $26,000 after purchasing an additional 33 shares during the last quarter. Cache Advisors LLC purchased a new stake in Home Depot in the 1st quarter valued at $27,000. Merkkuri Wealth Advisors LLC acquired a new stake in Home Depot during the 1st quarter worth $28,000. Finally, Abound Financial LLC acquired a new stake in Home Depot during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Key Home Depot News

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

• Positive Sentiment: Q2 beat expectations: Adjusted EPS was $4.92 versus the $4.73 consensus, while revenue rose 5.7% year over year to $47.86 billion, exceeding estimates of roughly $47.2 billion. Home Depot reaffirms guidance amid frozen housing market conditions
• Positive Sentiment: Comparable sales improved: Total comparable sales increased 1.7%, the best performance since 2022, with U.S. comps up 1.3%. Smaller repair, maintenance and DIY projects helped offset weakness in large renovations. Home Depot beats quarterly sales estimates on steady repair demand
• Positive Sentiment: Pro and digital momentum: Professional-customer demand, project activity and record online sales supported results. Nationwide Express Delivery, using more than 2,000 stores as local fulfillment hubs, could improve convenience, order frequency and customer retention. The Home Depot expands nationwide express delivery
• Positive Sentiment: Analyst support: Guggenheim, Argus and DA Davidson reaffirmed Buy ratings, with price targets ranging from $377 to $425, suggesting additional upside if the housing market recovers.

Home Depot Stock Up 1.9%

HD opened at $343.91 on Thursday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.28. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The stock has a market capitalization of $342.92 billion, a P/E ratio of 24.07, a P/E/G ratio of 4.06 and a beta of 0.95. The business has a 50 day simple moving average of $340.56 and a 200-day simple moving average of $340.77.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share for the quarter, topping analysts' consensus estimates of $4.73 by $0.19. The firm had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.Home Depot's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on HD shares. Citigroup dropped their price objective on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Telsey Advisory Group decreased their target price on shares of Home Depot from $435.00 to $410.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Weiss Ratings raised Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 7th. Royal Bank Of Canada lowered their price target on Home Depot from $343.00 to $342.00 and set a "sector perform" rating on the stock in a report on Wednesday. Finally, DA Davidson restated a "buy" rating and issued a $377.00 price target on shares of Home Depot in a research report on Wednesday. Eighteen 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 stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $375.54.

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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