VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in The Home Depot, Inc. $HD

Key Points

• Virginia Retirement Systems acquired 25,310 Home Depot shares valued at approximately $8.9 million during the second quarter. Institutional investors collectively own 70.86% of the company.
• Analysts maintain a generally positive outlook, with 18 Buy ratings, 13 Holds and one Sell rating; the consensus rating is Moderate Buy with a $375.54 price target.
• Home Depot exceeded quarterly expectations, reporting $4.92 in EPS and $47.86 billion in revenue, while shares recently traded at $313.58. The company also declared a quarterly dividend of $2.33 per share, representing a 3.0% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 25,310 shares of the home improvement retailer's stock, valued at approximately $8,926,000.

Other hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in Home Depot by 3.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 52,776 shares of the home improvement retailer's stock valued at $18,613,000 after acquiring an additional 1,941 shares during the period. California State Teachers Retirement System raised its holdings in shares of Home Depot by 34,873.9% during the second quarter. California State Teachers Retirement System now owns 525,674,125 shares of the home improvement retailer's stock valued at $185,394,750,000 after purchasing an additional 524,171,077 shares during the last quarter. Tanager Wealth Management LLP lifted its position in Home Depot by 78.8% during the second quarter. Tanager Wealth Management LLP now owns 2,180 shares of the home improvement retailer's stock valued at $769,000 after purchasing an additional 961 shares during the period. VELA Investment Management LLC lifted its position in Home Depot by 9.3% during the second quarter. VELA Investment Management LLC now owns 4,293 shares of the home improvement retailer's stock valued at $1,514,000 after purchasing an additional 366 shares during the period. Finally, Washington Trust Advisors Inc. boosted its holdings in Home Depot by 0.5% in the second quarter. Washington Trust Advisors Inc. now owns 6,669 shares of the home improvement retailer's stock worth $2,352,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Home Depot from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded Home Depot from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, July 7th. Wells Fargo & Company lifted their price objective on Home Depot from $360.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Mizuho upped their price objective on Home Depot from $385.00 to $390.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. Finally, Gordon Haskett raised their target price on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $375.54.

Insiders Place Their Bets

In related news, CFO Richard V. Mcphail sold 5,989 shares of the business's stock in a transaction that occurred on 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 directly owned 48,104 shares in the company, valued at approximately $16,759,433.60. The trade was a 11.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael F. Rowe sold 710 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the completion of the sale, the executive vice president directly owned 6,838 shares of the company's stock, valued at $2,302,764.88. This represents a 9.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,154 shares of company stock worth $3,132,798 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Home Depot Trading Down 2.3%

Shares of Home Depot stock opened at $313.58 on Wednesday. The company's fifty day simple moving average is $337.98 and its 200-day simple moving average is $335.09. The stock has a market capitalization of $312.86 billion, a PE ratio of 21.94, a P/E/G ratio of 3.53 and a beta of 0.95. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31.

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

Home Depot Dividend Announcement

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 issued a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot's payout ratio is currently 65.22%.

Home Depot Profile

The Home Depot, Inc is a home improvement retailer that sells building materials, appliances, decor, hardware, tools, paint, lawn and garden products, and related merchandise. The company serves do-it-yourself customers, professional contractors, homebuilders, and other commercial customers through its retail stores and digital platforms.

Home Depot also provides services such as equipment and tool rental, delivery, installation, and project support. Its professional-focused offerings include job-lot quantities, specialized products, credit services, and account support designed for contractors and other trade customers.

Founded in 1978 by Bernie Marcus, Arthur Blank, Ken Langone, and Pat Farrah, the company is headquartered in Atlanta, Georgia.

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