SVB Wealth LLC Has $11.65 Million Stock Holdings in The Home Depot, Inc. $HD

Key Points

• SVB Wealth LLC cut its Home Depot stake by 22.8% in the first quarter, selling 10,447 shares and ending with 35,412 shares valued at about $11.65 million.
• Analysts remain mostly positive but have trimmed price targets after recent reports; Home Depot’s consensus rating is still “Moderate Buy,” with an average target of $371.71.
• Home Depot beat quarterly EPS and revenue estimates in its latest earnings report, while also paying a quarterly dividend of $2.33 per share, equal to a 2.9% annualized yield.

SVB Wealth LLC decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,412 shares of the home improvement retailer's stock after selling 10,447 shares during the period. Home Depot comprises approximately 0.8% of SVB Wealth LLC's holdings, making the stock its 27th largest holding. SVB Wealth LLC's holdings in Home Depot were worth $11,647,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Curio Wealth LLC increased its position in shares of Home Depot by 13.5% during the fourth quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer's stock valued at $76,000 after purchasing an additional 26 shares during the period. Westfuller Advisors LLC lifted its position in Home Depot by 2.1% in the fourth quarter. Westfuller Advisors LLC now owns 1,325 shares of the home improvement retailer's stock worth $456,000 after purchasing an additional 27 shares during the period. Darwin Wealth Management LLC boosted its stake in Home Depot by 0.5% during the fourth quarter. Darwin Wealth Management LLC now owns 4,949 shares of the home improvement retailer's stock worth $1,703,000 after buying an additional 27 shares in the last quarter. Alesco Advisors LLC boosted its stake in Home Depot by 3.2% during the fourth quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer's stock worth $298,000 after buying an additional 27 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida increased its holdings in Home Depot by 1.3% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer's stock valued at $749,000 after buying an additional 27 shares during the period. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. Guggenheim reaffirmed a "buy" rating and set a $425.00 price objective on shares of Home Depot in a report on Wednesday, May 20th. Evercore lowered their target price on shares of Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 20th. TD Cowen dropped their price target on shares of Home Depot from $450.00 to $375.00 and set a "buy" rating for the company in a research report on Wednesday, May 20th. DA Davidson cut their price target on shares of Home Depot from $445.00 to $377.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, Robert W. Baird decreased their price objective on Home Depot from $430.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $371.71.

Key Stories Impacting Home Depot

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

• Negative Sentiment: Wolfe Research downgraded Home Depot (HD) to Peer Perform, a move that pressured the stock and signaled more cautious expectations for the near term. Wolfe Research upgrades Target to Top Pick, downgrades Home Depot and Five Below
• Negative Sentiment: Another market note highlighted that Home Depot shares slipped after the downgrade, with investors also weighing softer housing-related demand and competitive pressure in home improvement retail. Home Depot Stock NYSE: HD Slips as Unlikely Dark Horse Steps Up

Home Depot Stock Down 0.6%

HD opened at $324.82 on Wednesday. The firm has a market cap of $323.88 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 3.77 and a beta of 0.97. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04. The firm's 50-day simple moving average is $322.74 and its 200-day simple moving average is $345.89. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly 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. The firm had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.9%. Home Depot's payout ratio is 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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.