Baker Avenue Asset Management LP Acquires 3,627 Shares of The Home Depot, Inc. $HD

Baker Avenue Asset Management LP increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,098 shares of the home improvement retailer’s stock after purchasing an additional 3,627 shares during the period. Baker Avenue Asset Management LP’s holdings in Home Depot were worth $12,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Wellington Management Group LLP grew its holdings in Home Depot by 60.8% in the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares during the last quarter. Vanguard Group Inc. grew its holdings in Home Depot by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after purchasing an additional 1,325,748 shares during the last quarter. Franklin Resources Inc. grew its holdings in Home Depot by 37.6% in the third quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer’s stock worth $1,542,278,000 after purchasing an additional 1,040,577 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Home Depot by 215.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,248,615 shares of the home improvement retailer’s stock worth $429,648,000 after purchasing an additional 852,719 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Home Depot in the third quarter worth $284,893,000. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In related news, CFO Richard V. Mcphail sold 2,550 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

Home Depot Trading Up 2.5%

NYSE HD opened at $318.27 on Thursday. The company has a market capitalization of $317.00 billion, a PE ratio of 22.60, a P/E/G ratio of 3.58 and a beta of 1.00. The company has a fifty day moving average of $325.37 and a 200 day moving average of $350.33. 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 3.23, a current ratio of 1.04 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.02. The company had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.02 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given a dividend of $2.33 per share. The ex-dividend date is Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.9%. Home Depot’s payout ratio is currently 66.19%.

Home Depot News Summary

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

• Positive Sentiment: TD Cowen said Home Depot delivered solid execution in a challenging market, and although it trimmed its price target, it reiterated a Buy rating, which can help reinforce confidence in the stock. A Bright Spot in Home Depot’s Earnings
• Positive Sentiment: Home Depot’s latest results showed a modest earnings beat and continued strength in its Pro segment, while U.S. same-store sales posted a sixth straight quarter of growth, supporting the view that demand is stabilizing. Home Depot Sales Recovery And Mingledorff’s Deal Strengthen Pro Growth Story
• Positive Sentiment: Home Depot’s acquisition of Mingledorff’s expands its reach in HVAC distribution and deepens its exposure to professional customers, which investors may see as a long-term growth driver. Home Depot Sales Recovery And Mingledorff’s Deal Strengthen Pro Growth Story

Analyst Ratings Changes

HD has been the topic of several analyst reports. UBS Group cut their price target on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Mizuho cut their price target on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Zacks Research raised shares of Home Depot from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. HSBC cut their price target on shares of Home Depot from $392.00 to $310.00 and set a “hold” rating on the stock in a report on Wednesday, May 20th. Finally, Oppenheimer lowered their price objective on shares of Home Depot from $405.00 to $310.00 and set a “market perform” rating for the company in a research note on Monday, May 18th. Twenty research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $371.39.

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.