Notis McConarty Edward Takes $3.65 Million Position in The Home Depot, Inc. $HD

Notis McConarty Edward bought a new stake in The Home Depot, Inc. (NYSE:HD) in the second quarter, HoldingsChannel reports. The fund bought 10,364 shares of the home improvement retailer’s stock, valued at approximately $3,655,000. Home Depot accounts for 1.6% of Notis McConarty Edward’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds also recently made changes to their positions in HD. BlackRock Inc. acquired a new position in Home Depot during the 2nd quarter valued at approximately $28,771,247,000. State Street Corp boosted its stake in Home Depot by 1.8% during 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 purchasing an additional 825,164 shares during the period. Geode Capital Management LLC boosted its stake in Home Depot by 1.5% during 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 purchasing an additional 343,153 shares during the period. Bank of America Corp DE grew its holdings in Home Depot by 1.6% in the 1st 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Home Depot by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer’s stock valued at $5,323,620,000 after buying an additional 1,113,114 shares in the last quarter. Institutional investors and hedge funds 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 reported fiscal second-quarter revenue of $47.86 billion, up 5.7% year over year and ahead of consensus estimates. Adjusted diluted EPS of $4.92 also exceeded the $4.73 analyst expectation. Home Depot Beat Q2 Estimates
• Positive Sentiment: A nationwide three-hour delivery service could help HD compete with Walmart and Target for e-commerce orders, improve convenience and support sales of home-improvement products. Home Depot Three-Hour Delivery
• Positive Sentiment: Analysts and investor-focused commentary continue to highlight Home Depot’s 17-year dividend growth streak and long-term shareholder returns, offering support while investors wait for housing conditions to improve. Home Depot Dividend Streak

Insider Buying and Selling at Home Depot

In other news, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer owned 48,104 shares of the company’s stock, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Home Depot from $320.00 to $340.00 and gave the stock a “hold” rating in a research note on Monday, August 17th. Telsey Advisory Group decreased their target price on Home Depot from $435.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Gordon Haskett increased their price target on Home Depot from $320.00 to $330.00 in a report on Friday, June 12th. DA Davidson reiterated a “buy” rating and set a $377.00 price target on shares of Home Depot in a report on Wednesday, August 19th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $354.00 price target on shares of Home Depot in a research report on Wednesday, August 19th. Eighteen research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.54.

Home Depot Stock Performance

Shares of NYSE:HD opened at $334.97 on Thursday. The business’s fifty day moving average price is $341.18 and its two-hundred day moving average price is $339.21. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The stock has a market capitalization of $334.01 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. The company 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 business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $4.68 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, analysts predict that The Home Depot, Inc. will post 14.99 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot’s dividend payout ratio is currently 65.22%.

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.