The Home Depot, Inc. $HD Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.9% in the third quarter, HoldingsChannel reports. The firm owned 178,971 shares of the home improvement retailer’s stock after buying an additional 16,061 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Home Depot were worth $51,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia purchased a new stake in shares of Home Depot in the 2nd quarter worth $118,723,000. AFT Forsyth & Company Inc. purchased a new position in Home Depot during the second quarter valued at $1,896,000. Field & Main Bank purchased a new position in Home Depot during the second quarter valued at $6,286,000. State Street Corp grew its holdings in Home Depot by 1.1% during the second quarter. State Street Corp now owns 47,175,026 shares of the home improvement retailer’s stock valued at $16,637,688,000 after purchasing an additional 499,168 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Home Depot by 9.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 49,096 shares of the home improvement retailer’s stock valued at $17,315,000 after purchasing an additional 4,292 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot News Roundup

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

• Positive Sentiment: Home Depot recently beat earnings expectations, supporting optimism about its ability to deliver results even in a challenging housing environment. Home Depot Stock Could Be Poised for a Turnaround
• Positive Sentiment: Coverage highlights Home Depot’s 17 consecutive years of dividend increases and its scale, which may help it remain resilient and sustain shareholder returns through a weak housing cycle. Home Depot Has Raised Its Dividend 17 Straight Years
• Neutral Sentiment: Analyst-oriented coverage says Home Depot has a record of earnings surprises and may be positioned to beat estimates again; this is a forecast, not a reported result. The company will hold its third-quarter earnings call on November 17. Will Home Depot Beat Estimates Again? Third Quarter Earnings Call Announcement
• Negative Sentiment: The stock’s weakness amid a broader-market uptick suggests investors remain cautious. Recent commentary cites a historically sluggish housing market and shares being down for the year as factors that could weigh on expectations for renovation-related spending. Home Depot Stock Falls Amid Market Uptick

Insider Activity at Home Depot

In other news, CAO Kimberly R. Scardino sold 675 shares of Home Depot stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $305.95, for a total transaction of $206,516.25. Following the sale, the chief accounting officer owned 8,189 shares in the company, valued at $2,505,424.55. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Roseborough sold 2,455 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $328.77, for a total transaction of $807,130.35. Following the completion of the transaction, the executive vice president directly owned 14,061 shares in the company, valued at $4,622,834.97. This trade represents a 14.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,829 shares of company stock valued at $3,339,314. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Home Depot from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and set a $425.00 price objective on shares of Home Depot in a research note on Wednesday, August 19th. Melius Research set a $397.00 target price on shares of Home Depot in a report on Tuesday, October 6th. Argus restated a “buy” rating and set a $400.00 target price on shares of Home Depot in a research note on Wednesday, August 19th. Finally, Truist Financial lifted their price target on shares of Home Depot from $369.00 to $373.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $375.31.

Home Depot Price Performance

NYSE:HD opened at $333.49 on Wednesday. The business’s 50-day simple moving average is $308.48 and its two-hundred day simple moving average is $334.51. The Home Depot, Inc. has a 52 week low of $277.15 and a 52 week high of $397.63. The stock has a market cap of $332.72 billion, a PE ratio of 23.34, a P/E/G ratio of 2.43 and a beta of 0.93. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.73 by $0.19. The firm had revenue of $47.86 billion during the quarter, compared to analysts’ expectations of $47.24 billion. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were paid a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, September 3rd. Home Depot’s dividend payout ratio is presently 65.22%.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors, and other building and maintenance professionals. The company sells a broad selection of building materials, hardware, tools, appliances, paint, plumbing and electrical supplies, flooring, lighting, lawn and garden products, and home décor.

In addition to merchandise, Home Depot offers services such as product delivery, tool and equipment rental, credit services, and installation for selected products.