Scarborough Advisors LLC Buys New Stake in The Home Depot, Inc. $HD

Scarborough Advisors LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,676 shares of the home improvement retailer’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advocate Investing Services LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $25,000. Parvin Asset Management LLC grew its holdings in Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 33 shares during the period. Cache Advisors LLC purchased a new position in Home Depot during the first quarter valued at approximately $27,000. Key Capital Management INC purchased a new position in Home Depot during the fourth quarter valued at approximately $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in Home Depot in the first quarter valued at approximately $28,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 0.1%

Shares of HD opened at $339.22 on Monday. 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 $326.96 and its two-hundred day moving average is $345.22. The firm has a market cap of $338.24 billion, a P/E ratio of 24.09, a PEG ratio of 3.91 and a beta of 0.95.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.02. The business had revenue of $41.77 billion during the quarter, compared to the consensus estimate of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.56 EPS. 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 business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $2.33 dividend. This represents a $9.32 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s payout ratio is presently 66.19%.

Wall Street Analyst Weigh In

Several research firms have commented on HD. Robert W. Baird lowered their price objective on Home Depot from $430.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $423.00 to $396.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Truist Financial decreased their target price on shares of Home Depot from $394.00 to $369.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Guggenheim reissued a “buy” rating on shares of Home Depot in a report on Monday, June 29th. Finally, Mizuho dropped their price target on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 20th. Eighteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus 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.