The Home Depot, Inc. $HD Stake Boosted by Saudi Central Bank

Key Points

• Saudi Central Bank increased its Home Depot stake by 89.7% in the second quarter, bringing its holdings to 69,721 shares valued at approximately $24.6 million. Institutional investors collectively own 70.86% of the company.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, with sales up 5.7% year over year. The company also declared a quarterly dividend of $2.33 per share, representing a 2.9% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $375.54, while company insiders sold 9,154 shares worth roughly $3.13 million during the latest quarter.

Saudi Central Bank boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 89.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,721 shares of the home improvement retailer's stock after buying an additional 32,976 shares during the period. Saudi Central Bank's holdings in Home Depot were worth $24,589,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advocate Investing Services LLC acquired a new position in Home Depot in the 4th quarter worth approximately $25,000. Zeit Capital LLC acquired a new stake in Home Depot during the 2nd quarter valued at $26,000. Parvin Asset Management LLC raised its stake in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer's stock valued at $26,000 after purchasing an additional 33 shares during the period. Cache Advisors LLC purchased a new stake in shares of Home Depot in the first quarter valued at $27,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in shares of Home Depot in the first quarter valued at $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Teresa Roseborough sold 2,455 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $328.77, for a total value of $807,130.35. Following the transaction, the executive vice president directly owned 14,061 shares of the company's stock, valued at approximately $4,622,834.97. This trade represents a 14.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowe sold 710 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the sale, the executive vice president owned 6,838 shares of the company's stock, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,154 shares of company stock valued at $3,132,798. Insiders own 0.08% of the company's stock.

Home Depot Stock Performance

Shares of HD opened at $320.94 on Tuesday. The firm has a market cap of $320.20 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 3.53 and a beta of 0.95. The company's fifty day moving average is $338.76 and its 200-day moving average is $335.58. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.73 by $0.19. The business had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. Home Depot's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.68 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts expect that The Home Depot, Inc. will post 15 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be given a $2.33 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.9%. Home Depot's payout ratio is currently 65.22%.

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on Home Depot from $409.00 to $390.00 and set a "buy" rating for the company in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Evercore decreased their price target 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. Truist Financial increased their target price on shares of Home Depot from $369.00 to $373.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Finally, DA Davidson reissued a "buy" rating and set a $377.00 target price on shares of Home Depot in a research note on Wednesday, August 19th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and a consensus price target of $375.54.

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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