The Home Depot, Inc. $HD Position Boosted by QRG Capital Management Inc.

Key Points

• QRG Capital Management boosted its Home Depot stake by 15.1% in the first quarter, buying 21,182 more shares and bringing its total holdings to 161,621 shares valued at about $53.2 million.
• Home Depot’s latest quarter beat expectations, with EPS of $3.43 versus $3.41 expected and revenue of $41.77 billion, up 4.8% year over year.
• The company also paid a quarterly dividend of $2.33 per share, equal to an annualized yield of 2.6%, while analysts currently rate the stock a Moderate Buy with an average price target of $371.71.

QRG Capital Management Inc. increased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 15.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,621 shares of the home improvement retailer's stock after purchasing an additional 21,182 shares during the quarter. QRG Capital Management Inc.'s holdings in Home Depot were worth $53,155,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Home Depot during the 4th quarter valued at $4,850,329,000. Wellington Management Group LLP grew its holdings in shares of 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 acquiring an additional 3,836,051 shares during the last quarter. Cardano Risk Management B.V. grew its holdings in shares of Home Depot by 901.5% in the 4th 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 acquiring an additional 2,961,979 shares during the last quarter. Diamant Asset Management Inc. raised its position in shares of Home Depot by 33,026.3% during the first quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer's stock worth $770,269,000 after purchasing an additional 2,334,956 shares during the period. Finally, J. Stern & Co. LLP raised its position in shares of Home Depot by 14,869.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer's stock worth $768,210,000 after purchasing an additional 2,217,607 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on Home Depot from $422.00 to $421.00 and set an "overweight" rating for the company in a research report on Wednesday, May 20th. Wolfe Research downgraded Home Depot from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 23rd. Citigroup reduced their price objective on shares of Home Depot from $450.00 to $400.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th. Evercore decreased their target price on shares of Home Depot from $415.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, May 20th. Finally, Wells Fargo & Company dropped their target price on shares of Home Depot from $375.00 to $360.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $371.71.

Home Depot Stock Down 0.0%

NYSE:HD opened at $357.73 on Friday. The business's fifty day moving average price is $323.97 and its 200 day moving average price is $345.83. The firm has a market capitalization of $356.69 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.13 and a beta of 0.95. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, topping analysts' consensus estimates 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 company posted $3.56 EPS. The business's quarterly 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, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, June 4th. 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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