SEB Asset Management AB Purchases Shares of 226,291 The Home Depot, Inc. $HD

Key Points

• SEB Asset Management AB disclosed a new first-quarter stake in Home Depot, buying 226,291 shares valued at about $74.4 million.
• Other institutional investors also increased their Home Depot holdings, and 70.86% of the stock is now owned by institutions and hedge funds.
• Analysts remain broadly positive despite trimming price targets, with Home Depot earning a Moderate Buy consensus and a $371.71 average target price.

SEB Asset Management AB acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 226,291 shares of the home improvement retailer's stock, valued at approximately $74,425,000.

A number of other hedge funds have also recently made changes to their positions in HD. Swiss National Bank raised its holdings in shares of Home Depot by 7.1% in the 1st quarter. Swiss National Bank now owns 2,921,600 shares of the home improvement retailer's stock worth $960,885,000 after acquiring an additional 193,960 shares during the last quarter. Valley Wealth Managers Inc. boosted its stake in Home Depot by 2.3% during the 1st quarter. Valley Wealth Managers Inc. now owns 11,735 shares of the home improvement retailer's stock valued at $3,860,000 after purchasing an additional 268 shares during the last quarter. AIA Group Ltd boosted its stake in Home Depot by 26.1% during the 1st quarter. AIA Group Ltd now owns 55,099 shares of the home improvement retailer's stock valued at $18,122,000 after purchasing an additional 11,415 shares during the last quarter. Legacy Wealth Advisors LLC increased its holdings in Home Depot by 44.6% during the 1st quarter. Legacy Wealth Advisors LLC now owns 947 shares of the home improvement retailer's stock worth $311,000 after purchasing an additional 292 shares in the last quarter. Finally, Spartan Wealth Advisory Services LLC bought a new stake in Home Depot during the 1st quarter worth approximately $940,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HD shares. UBS Group lowered their price objective on Home Depot from $450.00 to $430.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Evercore decreased their price target on Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Citigroup decreased their price target on Home Depot from $450.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Piper Sandler lowered 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. Finally, Telsey Advisory Group dropped their price objective on Home Depot from $435.00 to $410.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $371.71.

Home Depot Stock Performance

Shares of HD opened at $339.22 on Friday. The stock has a 50 day moving average of $326.96 and a 200 day moving average of $345.24. The company has a market capitalization of $338.24 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 3.91 and a beta of 0.95. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The business had revenue of $41.77 billion for the quarter, compared to analysts' expectations of $41.59 billion. During the same quarter in the previous year, the firm earned $3.56 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. 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 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

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