VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Stock Position in The Home Depot, Inc. $HD

Key Points

• Virginia Retirement Systems trimmed its Home Depot stake by 7.7% in the fourth quarter, selling 3,960 shares and leaving it with 47,230 shares valued at about $16.25 million.
• Home Depot’s stock was down 2.5% and trading near its 52-week low, even as the company reported quarterly EPS of $2.72, topping estimates and slightly beating revenue forecasts.
• The company raised its quarterly dividend to $2.33 per share, while analysts remain generally constructive overall with a consensus rating of Moderate Buy and a target price around $408.10.

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,230 shares of the home improvement retailer's stock after selling 3,960 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Home Depot were worth $16,252,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HD. Vanguard Group Inc. increased its stake in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock worth $34,284,672,000 after buying an additional 1,325,748 shares during the period. Capital Research Global Investors increased its stake in Home Depot by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 11,400,133 shares of the home improvement retailer's stock worth $4,619,229,000 after buying an additional 30,739 shares during the period. Wellington Management Group LLP increased its stake in Home Depot by 60.8% during the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock worth $4,109,878,000 after buying an additional 3,836,051 shares during the period. Fisher Asset Management LLC increased its stake in Home Depot by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,130,293 shares of the home improvement retailer's stock worth $4,104,694,000 after buying an additional 197,211 shares during the period. Finally, Legal & General Group Plc increased its stake in Home Depot by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 6,181,165 shares of the home improvement retailer's stock worth $2,504,546,000 after buying an additional 116,875 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Trading Down 2.5%

NYSE HD opened at $302.65 on Thursday. The Home Depot, Inc. has a one year low of $299.27 and a one year high of $426.75. The company has a 50-day simple moving average of $334.45 and a 200-day simple moving average of $355.37. 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 capitalization of $301.45 billion, a PE 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 quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 EPS for the quarter, beating the consensus estimate of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The business 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 business posted $3.13 EPS. The company's quarterly revenue was down 3.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.03 earnings per share 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 $2.33 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.30. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $9.32 annualized dividend and a dividend yield of 3.1%. Home Depot's dividend payout ratio (DPR) is presently 65.50%.

Home Depot News Roundup

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

• Positive Sentiment: J.P. Morgan reaffirmed a Buy on Home Depot, citing resilient spring demand, strength among professional customers, and continued momentum in big-ticket sales. Analyst Reaffirms Buy on Home Depot, Citing Resilient Spring Demand, Pro Strength, and Big-Ticket Sales Momentum
• Positive Sentiment: Some investors continue to see Home Depot’s dividend as a draw, with recent coverage highlighting it as a high-quality blue-chip income stock. The Home Depot (HD) – Among the 12 Best Blue Chip Dividend Stocks to Buy Now
• Positive Sentiment: Mortgage rates hit a five-week high, but buyers are returning to the housing market, which could support demand for home-improvement spending and benefit Home Depot. Mortgage Rates Hit Five-Week Highs—But Homebuyers Are Returning, Boosting Home Depot, Lowe's And Other Builders
• Neutral Sentiment: Truist lowered its price target on Home Depot to $394 from $424, but kept a Buy rating, signaling continued confidence despite a more cautious valuation view. Truist Cuts Price Target on Home Depot to $394 from $424, Keeps Buy Rating
• Neutral Sentiment: Several articles note that Home Depot has been trading down ahead of earnings, reflecting investor caution rather than a clear change in the company’s fundamentals. Blue-Chip Stock Seeing a Pre-Earnings Pullback
• Negative Sentiment: Analysts expect Home Depot to report a decline in earnings, and recent previews suggest the upcoming results may not be strong enough to quickly reverse the stock’s recent weakness. Analysts Estimate Home Depot (HD) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: Broader housing-sector weakness is weighing on sentiment across home-improvement and building names, keeping pressure on HD even as the market overall holds up. Housing Stocks Are in Depression Mode. Whirlpool Down 81%, Lennar Crashed 54% While the S&P 500 Soars.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BNP Paribas Exane dropped their price target on shares of Home Depot from $391.00 to $348.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 24th. Sanford C. Bernstein lifted their price target on shares of Home Depot from $381.00 to $390.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 25th. Wolfe Research lifted their price target on shares of Home Depot from $413.00 to $414.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Daiwa Securities Group lifted their price target on shares of Home Depot from $360.00 to $390.00 and gave the stock a "neutral" rating in a research note on Thursday, February 26th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Home Depot in a research note on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $408.10.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of Home Depot stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the transaction, the chief financial officer directly owned 44,566 shares of the company's stock, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

Home Depot Company 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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