Perigon Wealth Management LLC Invests $36.29 Million in The Home Depot, Inc. $HD

Key Points

• Perigon Wealth Management initiated a $36.29 million position in Home Depot during the second quarter by purchasing 102,898 shares. Institutional investors and hedge funds collectively own 70.86% of the company.
• Home Depot exceeded quarterly expectations, reporting $4.92 in earnings per share and $47.86 billion in revenue, with sales up 5.7% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $375.54.
• The company declared a quarterly dividend of $2.33 per share, representing a 2.8% yield, while CFO Richard McPhail sold approximately $2.1 million of stock and reduced his holdings by 11.1%.

Perigon Wealth Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 102,898 shares of the home improvement retailer's stock, valued at approximately $36,290,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Home Depot by 7.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer's stock valued at $952,000 after purchasing an additional 173 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in shares of Home Depot by 14.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer's stock worth $4,248,000 after purchasing an additional 1,433 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth about $1,773,000. Finally, Financial Advisors Network Inc. increased its position in Home Depot by 11.3% during the 2nd quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer's stock worth $868,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity at Home Depot

In other 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 transaction, the chief financial officer directly owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company's stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $336.04 on Monday. The company has a market cap of $335.07 billion, a P/E ratio of 23.52, a PEG ratio of 3.70 and a beta of 0.95. 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 Home Depot, Inc. has a one year low of $289.10 and a one year high of $426.75. The business's 50-day simple moving average is $340.86 and its 200 day simple moving average is $340.20.

Home Depot (NYSE:HD - Get Free Report) last released 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. 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 revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company 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. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's payout ratio is presently 65.22%.

Analysts Set New Price Targets

HD has been the topic of several research reports. HSBC cut their price target 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. Guggenheim reiterated a "buy" rating and set a $425.00 price objective on shares of Home Depot in a research note on Wednesday, August 19th. Wells Fargo & Company increased their price objective on shares of Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group cut their target price on shares of Home Depot from $409.00 to $390.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Finally, Citigroup reduced their target price on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $375.54.

Key Home Depot News

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

• Positive Sentiment: Home Depot’s latest quarter showed solid execution: earnings and revenue exceeded consensus estimates, while sales increased year over year. Bank of America characterized the results as resilient despite a difficult housing backdrop. Home Depot Q2 results analysis
• Positive Sentiment: The board declared a quarterly dividend of $2.33 per share, payable September 17 to shareholders of record September 3. The annualized payout implies a yield of approximately 2.8%, supporting the stock’s income appeal. Home Depot declares quarterly dividend
• Positive Sentiment: DA Davidson, Argus and Guggenheim reiterated or assigned “Buy” ratings, indicating continued confidence in Home Depot’s long-term positioning. The company is also expanding nationwide express delivery to make smaller projects more convenient for cautious consumers. DA Davidson buy rating Home Depot expands express delivery
• Neutral Sentiment: Royal Bank of Canada lowered its price target to $342, while KeyCorp maintained a Sector Weight rating. The mixed recommendations suggest limited near-term upside despite the earnings beat. RBC lowers Home Depot price target
• Neutral Sentiment: Home Depot expanded executive responsibilities and awarded restricted stock, changes intended to support leadership continuity but with no immediate earnings impact. Home Depot executive changes
• Negative Sentiment: Reports highlight margin pressure and an uphill sales environment as customers delay or reduce spending on major renovations. This could constrain comparable sales and profitability even after the recent quarterly beat. Home Depot margin pressure Home Depot customer spending concerns
• Negative Sentiment: CFO Richard McPhail sold 5,989 shares worth approximately $2.1 million, reducing his position by 11.1%. While insider sales do not necessarily signal deteriorating fundamentals, the transaction may weigh modestly on sentiment. Home Depot CFO stock sale

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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