The Home Depot, Inc. $HD Position Boosted by Channel Wealth LLC

Key Points

• Channel Wealth LLC significantly increased its Home Depot stake, boosting holdings by 711.5% in the fourth quarter to 8,853 shares worth about $3.05 million.
• Wall Street sentiment remains generally positive, with several firms reiterating or raising buy ratings and the consensus price target sitting at $412.24 versus the stock’s recent price around $317.43.
• Home Depot reported quarterly earnings and revenue that topped estimates, and it also raised its dividend to $2.33 per share quarterly, yielding about 2.9%.

Channel Wealth LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 711.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,853 shares of the home improvement retailer's stock after acquiring an additional 7,762 shares during the quarter. Channel Wealth LLC's holdings in Home Depot were worth $3,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Costello Asset Management INC grew its holdings in shares of Home Depot by 63.1% during the 4th quarter. Costello Asset Management INC now owns 1,212 shares of the home improvement retailer's stock valued at $417,000 after acquiring an additional 469 shares in the last quarter. Carlson Capital L.P. purchased a new position in shares of Home Depot during the 4th quarter valued at $791,000. Lighthouse Financial Services Inc. ADV purchased a new position in shares of Home Depot during the 4th quarter valued at $2,427,000. Indie Asset Partners LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $204,000. Finally, BHK Investment Advisors LLC grew its holdings in shares of Home Depot by 29.6% during the 4th quarter. BHK Investment Advisors LLC now owns 1,017 shares of the home improvement retailer's stock valued at $350,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HD. Bank of America began coverage on Home Depot in a research note on Tuesday. They issued a "buy" rating and a $374.00 price target for the company. Jefferies Financial Group boosted their price target on Home Depot from $424.00 to $454.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Guggenheim boosted their price target on Home Depot from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Truist Financial set a $424.00 price target on Home Depot in a research note on Tuesday, February 24th. Finally, Morgan Stanley boosted their price target on Home Depot from $412.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $412.24.

Insider Buying and Selling

In related 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 value of $940,669.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by company insiders.

Home Depot Stock Down 1.6%

NYSE HD opened at $317.43 on Friday. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.26 and a current ratio of 1.06. The firm has a 50-day simple moving average of $339.65 and a 200 day simple moving average of $357.57. The Home Depot, Inc. has a twelve month low of $310.40 and a twelve month high of $426.75. The stock has a market cap of $316.17 billion, a PE ratio of 22.31, a PEG ratio of 3.72 and a beta of 1.00.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a $2.33 dividend. The ex-dividend date was Thursday, March 12th. This is a boost from Home Depot's previous quarterly dividend of $2.30. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. Home Depot's dividend payout ratio is 65.50%.

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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