Verus Capital Partners LLC Purchases New Holdings in The Home Depot, Inc. $HD

Key Points

• Verus Capital Partners initiated a Home Depot position, buying 4,222 shares worth approximately $1.2 million in the third quarter. Institutional investors overall own 70.86% of the company’s stock.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $375.31; 18 analysts rate the stock Buy, while 13 rate it Hold.
• Home Depot reported quarterly EPS of $4.92, beating the $4.73 consensus, and revenue of $47.86 billion, up 5.7% year over year. It also declared a quarterly dividend of $2.33 per share, equivalent to a 2.7% annualized yield.

Verus Capital Partners LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,222 shares of the home improvement retailer's stock, valued at approximately $1,201,000.

Several other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Home Depot in the second quarter valued at $28,771,247,000. State Street Corp grew its stake in Home Depot by 1.1% during the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer's stock worth $16,637,688,000 after buying an additional 499,168 shares during the last quarter. Bank of America Corp DE acquired a new stake in Home Depot during the 2nd quarter valued at $5,780,468,000. Bank of New York Mellon Corp acquired a new stake in shares of Home Depot in the second quarter valued at $2,777,396,000. Finally, Corient Private Wealth LP bought a new position in shares of Home Depot in the second quarter worth about $390,913,000. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HD shares. Jefferies Financial Group restated a "buy" rating and set a $398.00 target price on shares of Home Depot in a research report on Tuesday, August 18th. Stifel Nicolaus lowered their price target on Home Depot from $346.00 to $322.00 and set a "hold" rating for the company in a report on Monday, October 26th. UBS Group reaffirmed a "buy" rating on shares of Home Depot in a research report on Thursday, September 17th. Wells Fargo & Company upped their price target on Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Home Depot in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $375.31.

Insider Activity

In other Home Depot news, CFO Richard V. Mcphail sold 5,989 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the transaction, the chief financial officer owned 48,104 shares of the company's stock, valued at approximately $16,759,433.60. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Roseborough sold 2,455 shares of the company'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 transaction of $807,130.35. Following the transaction, the executive vice president owned 14,061 shares of the company's stock, valued at approximately $4,622,834.97. This represents a 14.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,829 shares of company stock worth $3,339,314. Insiders own 0.08% of the company's stock.

Home Depot Price Performance

Shares of NYSE HD opened at $343.48 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64. The firm has a market cap of $342.69 billion, a P/E ratio of 24.04, a price-to-earnings-growth ratio of 2.44 and a beta of 0.93. The business's 50 day moving average is $309.42 and its 200-day moving average is $334.08. The Home Depot, Inc. has a 1-year low of $277.15 and a 1-year high of $397.63.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.73 by $0.19. The company had revenue of $47.86 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a dividend of $2.33 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot's dividend payout ratio is currently 65.22%.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.

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