The Home Depot, Inc. $HD Stock Acquired by Joseph Group Capital Management

Joseph Group Capital Management grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,636 shares of the home improvement retailer’s stock after purchasing an additional 3,692 shares during the quarter. Home Depot makes up about 1.3% of Joseph Group Capital Management’s portfolio, making the stock its 26th biggest holding. Joseph Group Capital Management’s holdings in Home Depot were worth $7,578,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fulcrum Asset Management LLP raised its holdings in Home Depot by 6.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,516 shares of the home improvement retailer’s stock worth $437,000 after purchasing an additional 88 shares during the period. Griffith & Werner Inc. grew its holdings in Home Depot by 12.4% in the third quarter. Griffith & Werner Inc. now owns 13,489 shares of the home improvement retailer’s stock valued at $3,838,000 after purchasing an additional 1,492 shares during the period. Burton Enright Welch grew its holdings in Home Depot by 32.9% in the third quarter. Burton Enright Welch now owns 2,664 shares of the home improvement retailer’s stock valued at $758,000 after purchasing an additional 660 shares during the period. Hager Investment Management Services LLC grew its holdings in Home Depot by 0.5% in the third quarter. Hager Investment Management Services LLC now owns 10,672 shares of the home improvement retailer’s stock valued at $3,036,000 after purchasing an additional 51 shares during the period. Finally, RHL Group LLC increased its position in shares of Home Depot by 13.1% in the third quarter. RHL Group LLC now owns 525 shares of the home improvement retailer’s stock valued at $149,000 after buying an additional 61 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

More Home Depot News

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

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HD. Royal Bank Of Canada reduced their target price on Home Depot from $343.00 to $342.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Home Depot in a research report on Friday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of Home Depot in a research note on Wednesday, August 19th. TD Cowen reissued a “buy” rating on shares of Home Depot in a report on Monday, August 10th. Finally, Sanford C. Bernstein cut their price target on shares of Home Depot from $354.00 to $344.00 and set a “market perform” rating for the company in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $375.45.

Home Depot Trading Up 3.0%

Shares of Home Depot stock opened at $353.77 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a twelve month low of $277.15 and a twelve month high of $397.63. The firm has a market capitalization of $352.95 billion, a PE ratio of 24.76, a P/E/G ratio of 2.53 and a beta of 0.93. The firm’s 50-day moving average price is $309.90 and its 200 day moving average price is $333.92.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, topping the consensus estimate of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The company had revenue of $47.86 billion during the quarter, compared to analyst estimates of $47.24 billion. During the same period in the previous year, the business earned $4.68 EPS. Home Depot’s quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were paid a $2.33 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s payout ratio is currently 65.22%.

Insider Transactions at Home Depot

In related news, EVP Michael F. Rowe sold 710 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president directly owned 6,838 shares of the company’s stock, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Roseborough sold 2,455 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $328.77, for a total value of $807,130.35. Following the completion of the transaction, the executive vice president owned 14,061 shares in the company, valued at $4,622,834.97. The trade was a 14.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 9,829 shares of company stock valued at $3,339,314. Insiders own 0.08% of the company’s stock.

About Home Depot

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.