Smith Chas P & Associates PA Cpas Boosts Position in The Home Depot, Inc. $HD

Key Points

• Smith Chas P & Associates PA Cpas boosted its Home Depot stake by 61.4% in the fourth quarter, adding 72,503 shares to reach 190,635 shares valued at about $65.6 million.
• Home Depot reported better-than-expected quarterly earnings with EPS of $3.43 versus $3.41 estimated, and revenue of $41.77 billion, while U.S. same-store sales grew for a sixth straight quarter.
• Analysts remain cautiously positive overall: the stock has a Moderate Buy consensus, though several firms recently cut price targets; Home Depot also announced a $2.33 quarterly dividend payable June 18.

Smith Chas P & Associates PA Cpas grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 61.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,635 shares of the home improvement retailer's stock after buying an additional 72,503 shares during the period. Home Depot makes up 3.4% of Smith Chas P & Associates PA Cpas' investment portfolio, making the stock its 7th largest holding. Smith Chas P & Associates PA Cpas' holdings in Home Depot were worth $65,598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parvin Asset Management LLC lifted its holdings in shares of Home Depot by 110.0% in the 3rd 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. Key Capital Management INC bought a new position in shares of Home Depot in the 4th quarter worth $28,000. Financially Speaking Inc bought a new position in shares of Home Depot in the 3rd quarter worth $31,000. Navalign LLC bought a new position in shares of Home Depot in the 4th quarter worth $31,000. Finally, Disciplined Equity Management Inc. bought a new position in shares of Home Depot in the 4th quarter worth $34,000. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Richard V. Mcphail sold 2,550 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total transaction of $940,669.50. Following the completion of the sale, the chief financial officer directly owned 44,566 shares of the company's stock, valued at $16,439,951.74. This trade represents a 5.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HD shares. Evercore cut their target price on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Gordon Haskett cut their target price on Home Depot from $330.00 to $320.00 and set a "hold" rating on the stock in a report on Tuesday, May 19th. Oppenheimer cut their target price 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. Wall Street Zen cut Home Depot from a "hold" rating to a "sell" rating in a report on Monday. Finally, Morgan Stanley cut their target price on Home Depot from $420.00 to $400.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Twenty investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $371.39.

Key Headlines Impacting Home Depot

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

• Positive Sentiment: TD Cowen said Home Depot delivered solid execution in a challenging market, and although it trimmed its price target, it reiterated a Buy rating, which can help reinforce confidence in the stock. A Bright Spot in Home Depot’s Earnings
• Positive Sentiment: Home Depot’s latest results showed a modest earnings beat and continued strength in its Pro segment, while U.S. same-store sales posted a sixth straight quarter of growth, supporting the view that demand is stabilizing. Home Depot Sales Recovery And Mingledorff’s Deal Strengthen Pro Growth Story
• Positive Sentiment: Home Depot’s acquisition of Mingledorff’s expands its reach in HVAC distribution and deepens its exposure to professional customers, which investors may see as a long-term growth driver. Home Depot Sales Recovery And Mingledorff’s Deal Strengthen Pro Growth Story

Home Depot Trading Up 2.5%

NYSE HD opened at $318.27 on Thursday. The firm has a market capitalization of $317.00 billion, a P/E ratio of 22.60, a PEG ratio of 3.58 and a beta of 1.00. The business has a fifty day simple moving average of $325.37 and a 200 day simple moving average of $350.33. 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 announced its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. During the same period last year, the firm posted $3.56 EPS. The business's revenue was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.02 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. Home Depot's dividend payout ratio (DPR) is currently 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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