Modern Wealth Management LLC Raises Stake in The Home Depot, Inc. $HD

Modern Wealth Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 12.6% during the first quarter, Holdings Channel reports. The institutional investor owned 17,279 shares of the home improvement retailer’s stock after purchasing an additional 1,928 shares during the period. Modern Wealth Management LLC’s holdings in Home Depot were worth $5,694,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HD. Advocate Investing Services LLC bought a new position in shares of Home Depot during the fourth quarter worth $25,000. Parvin Asset Management LLC boosted its holdings in shares of Home Depot by 110.0% during 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 purchased a new position in shares of Home Depot during the first quarter valued at about $27,000. Key Capital Management INC bought a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new stake in shares of Home Depot in the first quarter worth about $28,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BNP Paribas Exane dropped their price target on Home Depot from $348.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Truist Financial decreased their price objective on Home Depot from $394.00 to $369.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Telsey Advisory Group lowered 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. UBS Group cut their target price on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Wolfe Research cut shares of Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $371.71.

Home Depot Trading Up 2.5%

Shares of HD stock opened at $332.86 on Friday. The company has a market cap of $331.91 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.75 and a beta of 0.95. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75. The stock’s 50 day simple moving average is $329.52 and its two-hundred day simple moving average is $344.73. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.02. The firm had revenue of $41.77 billion during the quarter, compared to analysts’ expectations of $41.59 billion. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.56 EPS. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were 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 was Thursday, June 4th. Home Depot’s payout ratio is presently 66.19%.

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.