Texas Capital Bank Wealth Management Services Inc Acquires New Holdings in The Home Depot, Inc. $HD

Key Points

• Texas Capital Bank Wealth Management Services acquired 29,932 Home Depot shares worth approximately $10.6 million, making HD 0.6% of its portfolio. Institutional investors collectively own 70.86% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $375.54, despite some firms lowering their targets.
• Home Depot exceeded quarterly earnings and revenue expectations, reporting $4.92 in EPS and $47.86 billion in revenue. The company also declared a $2.33 quarterly dividend, equal to a 2.8% annualized yield.

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 29,932 shares of the home improvement retailer's stock, valued at approximately $10,556,000. Home Depot makes up 0.6% of Texas Capital Bank Wealth Management Services Inc's portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Home Depot in the 2nd quarter worth $28,771,247,000. Norges Bank acquired a new stake in Home Depot in the fourth quarter worth about $4,850,329,000. Bank of New York Mellon Corp acquired a new position in shares of Home Depot during the second quarter valued at about $2,777,396,000. Wellington Management Group LLP boosted its stake 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 worth $4,109,878,000 after purchasing an additional 3,836,051 shares in the last quarter. Finally, Cardano Risk Management B.V. raised its holdings in shares of Home Depot by 901.5% in the fourth quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer's stock worth $1,132,275,000 after buying an additional 2,961,979 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on HD shares. Wells Fargo & Company boosted their price target on Home Depot from $360.00 to $400.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. TD Cowen restated a "buy" rating on shares of Home Depot in a research note on Monday, August 10th. Argus reaffirmed a "buy" rating and set a $400.00 target price on shares of Home Depot in a report on Wednesday, August 19th. Oppenheimer dropped their target price on Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a research report on Monday, May 18th. Finally, Citigroup cut their price target 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 analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $375.54.

Home Depot Stock Up 0.6%

HD stock opened at $337.54 on Tuesday. The stock has a market capitalization of $336.56 billion, a P/E ratio of 23.62, a P/E/G ratio of 3.70 and a beta of 0.95. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The firm has a 50-day simple moving average of $341.02 and a 200-day simple moving average of $339.89. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The firm had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the prior year, the company earned $4.68 EPS. The firm's revenue was up 5.7% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts forecast that The Home Depot, Inc. will post 14.99 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's dividend payout ratio is currently 65.22%.

Insider Buying and Selling

In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

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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