State of New Jersey Common Pension Fund D Lowers Stock Position in The Home Depot, Inc. $HD

Key Points

• State of New Jersey Common Pension Fund D cut its stake in The Home Depot by 2.2% in Q4, selling 7,872 shares and leaving it with 342,032 shares valued at about $117.7 million.
• Institutional ownership remains high (70.86%), with large managers like Vanguard adding to their positions (Vanguard now holds ~99.6 million shares) and Wellington boosting its stake by 60.8%.
• Home Depot beat quarterly expectations (EPS $2.72 vs. $2.52; revenue $38.2B) despite revenue declining 3.8% YoY, raised its quarterly dividend to $2.33 (annualized $9.32, ~2.9% yield) and set FY2026 EPS guidance of 14.230–14.799.

State of New Jersey Common Pension Fund D cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 342,032 shares of the home improvement retailer's stock after selling 7,872 shares during the period. State of New Jersey Common Pension Fund D's holdings in Home Depot were worth $117,693,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Vanguard Group Inc. raised its holdings in shares of Home Depot by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after buying an additional 1,325,748 shares during the period. Capital Research Global Investors boosted its holdings in Home Depot by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 11,400,133 shares of the home improvement retailer's stock valued at $4,619,229,000 after acquiring an additional 30,739 shares during the period. Wellington Management Group LLP grew its position in Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Fisher Asset Management LLC increased its stake in Home Depot by 2.0% during the third quarter. Fisher Asset Management LLC now owns 10,130,293 shares of the home improvement retailer's stock worth $4,104,694,000 after purchasing an additional 197,211 shares during the period. Finally, Legal & General Group Plc increased its stake in Home Depot by 1.9% during the third quarter. Legal & General Group Plc now owns 6,181,165 shares of the home improvement retailer's stock worth $2,504,546,000 after purchasing an additional 116,875 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD stock opened at $325.63 on Thursday. The company has a market cap of $324.33 billion, a P/E ratio of 22.70, a PEG ratio of 3.63 and a beta of 1.09. The firm has a fifty day moving average price of $344.25 and a 200 day moving average price of $359.57. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62. The Home Depot, Inc. has a 12 month low of $315.31 and a 12 month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.20. The company had revenue of $38.20 billion for the quarter, compared to analysts' expectations of $38.01 billion. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.Home Depot's quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $3.13 earnings per share. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.03 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 2.9%. This is a positive change from Home Depot's previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. Home Depot's dividend payout ratio is currently 65.50%.

Insider Buying and Selling

In other Home Depot news, CFO Richard V. Mcphail sold 2,550 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total transaction of $940,669.50. Following the sale, the chief financial officer owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Home Depot from $441.00 to $422.00 and set an "overweight" rating for the company in a research note on Monday, February 23rd. DA Davidson increased their target price on shares of Home Depot from $407.00 to $445.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Royal Bank Of Canada boosted their price target on shares of Home Depot from $363.00 to $377.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 25th. Citigroup increased their price objective on Home Depot from $407.00 to $450.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $435.00 target price on shares of Home Depot in a research note on Wednesday, March 25th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $414.17.

Home Depot 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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