Sterling Capital Management LLC Reduces Stock Holdings in The Home Depot, Inc. $HD

Sterling Capital Management LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,626 shares of the home improvement retailer’s stock after selling 15,175 shares during the period. Home Depot makes up 0.9% of Sterling Capital Management LLC’s holdings, making the stock its 24th largest position. Sterling Capital Management LLC’s holdings in Home Depot were worth $48,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Advocate Investing Services LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $25,000. Parvin Asset Management LLC raised its position 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 Home Depot in the 1st quarter worth approximately $27,000. Key Capital Management INC purchased a new stake in Home Depot during the 4th quarter worth approximately $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Home Depot during the 1st quarter worth approximately $28,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.1%

Shares of Home Depot stock opened at $348.60 on Monday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The firm has a fifty day moving average price of $322.98 and a 200 day moving average price of $345.75. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The stock has a market cap of $347.60 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 4.03 and a beta of 0.97.

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. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The company had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. During the same period in the previous year, the firm posted $3.56 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.7%. Home Depot’s dividend payout ratio is presently 66.19%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent analyst reports. BNP Paribas Exane cut their price target on shares of Home Depot from $348.00 to $325.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. TD Cowen dropped their price objective on shares of Home Depot from $450.00 to $375.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Evercore cut their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. Wall Street Zen upgraded Home Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Royal Bank Of Canada lowered their price target on Home Depot from $377.00 to $340.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $371.71.

About Home Depot

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.