Bank of Nova Scotia Raises Stock Position in The Home Depot, Inc. $HD

Bank of Nova Scotia grew its stake in The Home Depot, Inc. (NYSE:HD) by 109.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 722,758 shares of the home improvement retailer’s stock after purchasing an additional 378,393 shares during the period. Bank of Nova Scotia’s holdings in Home Depot were worth $237,709,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Advocate Investing Services LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $25,000. Parvin Asset Management LLC lifted its holdings in shares of Home Depot by 110.0% in 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 last quarter. Cache Advisors LLC acquired a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Key Capital Management INC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Home Depot in the 1st quarter valued at about $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HD. Oppenheimer cut their price target on Home Depot from $405.00 to $310.00 and set a “market perform” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group decreased their price objective on Home Depot from $409.00 to $390.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Wall Street Zen raised shares of Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Jefferies Financial Group reduced their price target on shares of Home Depot from $361.00 to $360.00 and set a “buy” rating for the company in a research report on Thursday, June 4th. Finally, Mizuho decreased their price target on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $371.71.

Home Depot Stock Down 1.9%

HD opened at $325.17 on Friday. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The business has a 50 day moving average price of $328.81 and a two-hundred day moving average price of $344.81. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The company has a market cap of $324.24 billion, a PE ratio of 23.09, a P/E/G ratio of 3.83 and a beta of 0.95.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.02. The company had revenue of $41.77 billion for the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, June 4th. Home Depot’s dividend payout ratio (DPR) is 66.19%.

More Home Depot News

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

• Positive Sentiment: Home Depot launched its 2026 Halloween collection with upgraded Skelly animatronics and broader seasonal merchandise, a move that could help drive customer traffic and sales during a key retail period. Home Depot (HD) Launches 2026 Halloween Collection With Upgraded Skelly Animatronics
• Positive Sentiment: Bernstein reportedly reiterated a positive stance on Home Depot, and Guggenheim also upgraded the stock to Buy, suggesting some analysts still see value in the shares. Home Depot (HD) Gets a Hold from Bernstein Home Depot (NYSE:HD) Earns “Buy” Rating from Guggenheim
• Neutral Sentiment: Analysts are expecting only modest year-over-year EPS growth when Home Depot reports next month, keeping expectations relatively subdued ahead of earnings. Earnings Preview: What To Expect From The Home Depot’s Report
• Negative Sentiment: Weak housing-market conditions are slowing big-ticket last-mile delivery and signaling softer demand tied to fewer home transactions, which is a headwind for Home Depot’s core business. Weak housing market hurts big and bulky last-mile delivery
• Negative Sentiment: Home Depot was reported to be falling more than the broader market, reinforcing that investors are reacting negatively to the housing slowdown and near-term growth concerns. Home Depot (HD) Falls More Steeply Than Broader Market: What Investors Need to Know

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.