The Home Depot, Inc. $HD Stake Lowered by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 48.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,064 shares of the home improvement retailer’s stock after selling 1,933 shares during the quarter. Wealthedge Investment Advisors LLC’s holdings in Home Depot were worth $728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 1,325,748 shares in the last quarter. State Street Corp grew its stake in shares of Home Depot by 1.8% in the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock valued at $16,147,010,000 after buying an additional 825,164 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Home Depot by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer’s stock valued at $8,151,344,000 after buying an additional 343,153 shares in the last quarter. Bank of America Corp DE increased its holdings in Home Depot by 1.6% in the first quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer’s stock worth $5,365,629,000 after buying an additional 250,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer’s stock worth $5,323,620,000 after buying an additional 1,113,114 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on HD. Wolfe Research lowered shares of Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of Home Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Sanford C. Bernstein set a $344.00 price target on shares of Home Depot in a research note on Wednesday. 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. Finally, Oppenheimer reduced 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. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.18.

Home Depot Stock Down 1.0%

HD opened at $338.21 on Friday. The firm has a market cap of $337.23 billion, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 4.08 and a beta of 0.95. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04. The business has a 50 day moving average price of $339.17 and a 200 day moving average price of $341.85. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 the consensus estimate of $41.59 billion. During the same quarter last year, the company posted $3.56 earnings per share. The company’s revenue for the quarter 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. Research analysts forecast that The Home Depot, Inc. will post 15 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio is currently 66.19%.

Trending Headlines about Home Depot

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

• Positive Sentiment: Analysts expect second-quarter sales and earnings growth, supported by continued momentum among professional customers (“Pros”) and gains in digital sales. Wells Fargo also raised its price target to $400, suggesting potential upside if Home Depot delivers a solid report. Home Depot to Post Q2 Earnings Wells Fargo Raises Home Depot Price Target
• Positive Sentiment: Home Depot’s long record of dividend payments may provide support for income-focused investors, while the bankruptcy filing of a smaller hardware rival could modestly reinforce the company’s scale and competitive position. Home Depot Dividend Streak Hardware Rival Files Chapter 11
• Neutral Sentiment: The company’s finance chief Richard McPhail and another senior executive will help manage operations during Decker’s absence. The arrangement limits immediate disruption, but investors may seek more clarity on the duration of the leave and its effect on strategy. Home Depot Executives Step Up During CEO Leave
• Negative Sentiment: Oppenheimer and other analysts caution that second-quarter results may show little evidence of a recovery. High interest rates, weak housing activity, margin pressure and rising fuel costs are weighing on renovation demand and retailer expenses. Home Depot and Lowe’s Results Face Macro Pressures
• Negative Sentiment: Several previews argue that HD may already be priced for a recovery, increasing the risk of a negative reaction if sales, margins or management guidance disappoint. Bernstein has maintained a Hold rating. Home Depot Q2 Earnings Preview Bernstein Maintains Hold Rating

Home Depot 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.