The Home Depot, Inc. $HD Shares Sold by Cane Capital Partners LLC

Key Points

• Cane Capital Partners LLC cut its Home Depot position by 62.4% in Q1, selling 12,925 shares and leaving it with 7,784 shares worth about $2.56 million.
• Several large institutions remained heavily invested in Home Depot, and 70.86% of the stock is owned by institutional investors and hedge funds.
• Home Depot recently beat quarterly earnings estimates with $3.43 EPS and $41.77 billion in revenue, while analysts currently rate the stock a Moderate Buy with a consensus target price of $371.71.

Cane Capital Partners LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 62.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,784 shares of the home improvement retailer's stock after selling 12,925 shares during the period. Home Depot comprises 1.1% of Cane Capital Partners LLC's investment portfolio, making the stock its 24th largest holding. Cane Capital Partners LLC's holdings in Home Depot were worth $2,560,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Home Depot by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after purchasing an additional 1,325,748 shares during the period. State Street Corp grew its stake in Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock worth $16,147,010,000 after purchasing an additional 825,164 shares in the last quarter. Geode Capital Management LLC increased its holdings in Home Depot by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock worth $8,151,344,000 after purchasing an additional 343,153 shares during the period. Bank of America Corp DE increased its holdings in Home Depot by 5.6% during the 4th quarter. Bank of America Corp DE now owns 16,063,532 shares of the home improvement retailer's stock worth $5,527,461,000 after purchasing an additional 851,029 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer's stock worth $5,323,620,000 after purchasing an additional 1,113,114 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Stifel Nicolaus decreased their price objective on Home Depot from $375.00 to $320.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Home Depot from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their target price on shares of Home Depot from $423.00 to $396.00 and set an "overweight" rating on the stock in a report on Wednesday, May 20th. Telsey Advisory Group decreased their price target on shares of Home Depot from $435.00 to $410.00 and set an "outperform" rating for the company in a research note on Wednesday, May 20th. Finally, Guggenheim reiterated a "buy" rating on shares of Home Depot in a report on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $371.71.

Home Depot Stock Performance

Shares of HD opened at $351.50 on Thursday. The company has a market capitalization of $350.49 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.07 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 company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The stock has a 50 day moving average price of $323.33 and a 200 day moving average price of $345.76.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot's payout ratio is 66.19%.

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.

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.