The Home Depot, Inc. $HD Shares Sold by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates Ltd. reduced its Home Depot stake by 5.2% in the fourth quarter, selling 8,268 shares and leaving it with 151,071 shares valued at about $52 million.
• Home Depot continues to see mixed but generally supportive analyst sentiment: several firms raised price targets or kept Buy ratings, while one recent report downgraded the stock to Sell. Overall, analysts still view the shares as a Moderate Buy with a consensus target price of $408.10.
• The company faces near-term pressure, with shares trading near their 12-month low and analysts expecting a decline in upcoming earnings, even as Home Depot recently beat quarterly EPS estimates and raised its dividend to $2.33 per share.

Pinnacle Associates Ltd. lowered its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,071 shares of the home improvement retailer's stock after selling 8,268 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Home Depot were worth $51,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of HD. Silphium Asset Management Ltd grew its stake in shares of Home Depot by 77.2% in the 3rd quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer's stock valued at $5,488,000 after buying an additional 5,900 shares in the last quarter. Truist Financial Corp grew its stake in shares of Home Depot by 0.3% in the 3rd quarter. Truist Financial Corp now owns 1,095,113 shares of the home improvement retailer's stock valued at $443,729,000 after buying an additional 3,608 shares in the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Home Depot by 59.9% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 107,438 shares of the home improvement retailer's stock valued at $43,533,000 after buying an additional 40,232 shares in the last quarter. Carnegie Investment Counsel grew its stake in shares of Home Depot by 24.8% in the 4th quarter. Carnegie Investment Counsel now owns 108,306 shares of the home improvement retailer's stock valued at $37,268,000 after buying an additional 21,545 shares in the last quarter. Finally, Savvy Advisors Inc. grew its stake in shares of Home Depot by 36.0% in the 4th quarter. Savvy Advisors Inc. now owns 19,478 shares of the home improvement retailer's stock valued at $6,703,000 after buying an additional 5,152 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total transaction of $940,669.50. Following the completion of the transaction, the chief financial officer directly owned 44,566 shares in the company, valued at $16,439,951.74. The trade was a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. 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. DA Davidson boosted their price target on Home Depot from $407.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. UBS Group reissued an "outperform" rating on shares of Home Depot in a research note on Tuesday, March 24th. Wall Street Zen lowered Home Depot from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Guggenheim boosted their target price on Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Twenty 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. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $408.10.

Key Headlines Impacting Home Depot

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

• Positive Sentiment: J.P. Morgan reiterated a Buy rating, citing resilient spring demand, strength in professional customers, and momentum in big-ticket sales, which supports the long-term investment case for Home Depot (HD). Article Title
• Positive Sentiment: Truist kept a Buy rating even after cutting its price target to $394 from $424, suggesting analysts still see meaningful upside from current levels. Article Title
• Neutral Sentiment: Home Depot remains a popular dividend name, with several articles highlighting its income appeal and blue-chip status, which may help limit downside for income-focused investors. Article Title
• Neutral Sentiment: Investor commentary ahead of the upcoming report is mixed, with some noting the stock may still offer value after recent weakness, while others question whether the bull case can survive the print. Article Title
• Negative Sentiment: The stock has been falling ahead of earnings, with articles pointing to a multi-day pullback and a move toward a more than two-year low, signaling bearish investor sentiment before the report. Article Title
• Negative Sentiment: Analysts are expecting a decline in earnings in the upcoming quarter, adding to concerns that housing-related weakness and softer discretionary spending could pressure results. Article Title

Home Depot Stock Down 2.5%

HD opened at $302.65 on Thursday. The business has a 50 day moving average price of $334.45 and a 200 day moving average price of $355.37. The Home Depot, Inc. has a twelve month low of $299.27 and a twelve month high of $426.75. 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 market cap of $301.45 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 3.58 and a beta of 1.00.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were issued a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Home Depot's previous quarterly dividend of $2.30. The ex-dividend date was Thursday, March 12th. Home Depot's dividend payout ratio is presently 65.50%.

Home Depot 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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