Mangrove Partners IM LLC Purchases New Position in The Home Depot, Inc. $HD

Mangrove Partners IM LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,796 shares of the home improvement retailer’s stock, valued at approximately $962,000.

Several other institutional investors also recently bought and sold shares of HD. Norges Bank purchased a new position in Home Depot during the fourth quarter valued at approximately $4,850,329,000. Wellington Management Group LLP raised its position in Home Depot by 60.8% during the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Cardano Risk Management B.V. raised its position in Home Depot by 901.5% during the fourth quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock valued at $1,132,275,000 after acquiring an additional 2,961,979 shares in the last quarter. Parnassus Investments LLC raised its position in Home Depot by 712.3% during the fourth quarter. Parnassus Investments LLC now owns 2,080,538 shares of the home improvement retailer’s stock valued at $715,913,000 after acquiring an additional 1,824,409 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after acquiring an additional 1,325,748 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.1%

Shares of HD opened at $336.85 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 12 month low of $289.10 and a 12 month high of $426.75. The stock’s 50 day moving average is $322.91 and its two-hundred day moving average is $346.83. The firm has a market cap of $335.88 billion, a P/E ratio of 23.92, a PEG ratio of 3.81 and a beta of 0.97.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating the consensus estimate of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same period last year, the company earned $3.56 earnings per share. Home Depot’s quarterly revenue was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $2.33 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot’s payout ratio is currently 66.19%.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Bank of America initiated coverage on Home Depot in a research report on Tuesday, May 5th. They set a “buy” rating and a $374.00 price target for the company. Gordon Haskett lifted their price target on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. Mizuho reduced their price target on Home Depot from $415.00 to $385.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and issued a $346.00 price objective on shares of Home Depot in a report on Wednesday, May 20th. Finally, Oppenheimer dropped their price objective on Home Depot from $405.00 to $310.00 and set a “market perform” rating on the stock in a report on Monday, May 18th. Nineteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $371.71.

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.