Carlson Capital L.P. Grows Stake in The Home Depot, Inc. $HD

Carlson Capital L.P. increased its position in The Home Depot, Inc. (NYSE:HD) by 312.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,477 shares of the home improvement retailer’s stock after purchasing an additional 7,177 shares during the quarter. Home Depot accounts for 1.0% of Carlson Capital L.P.’s portfolio, making the stock its 7th biggest holding. Carlson Capital L.P.’s holdings in Home Depot were worth $3,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Home Depot in the fourth quarter worth approximately $4,850,329,000. Wellington Management Group LLP increased its holdings in shares of Home Depot by 60.8% during the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock valued at $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Cardano Risk Management B.V. raised its position in shares of Home Depot by 901.5% during the fourth quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock worth $1,132,275,000 after purchasing an additional 2,961,979 shares during the period. Diamant Asset Management Inc. lifted its holdings in shares of Home Depot by 33,026.3% in the 1st quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer’s stock worth $770,269,000 after purchasing an additional 2,334,956 shares in the last quarter. Finally, J. Stern & Co. LLP lifted its holdings in shares of Home Depot by 14,869.3% in the 4th quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer’s stock worth $768,210,000 after purchasing an additional 2,217,607 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot News Roundup

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

• Positive Sentiment: Leadership realignment targets growth: Home Depot is combining its merchandising, customer experience and Pro-focused operations to create a more seamless customer experience and capture a larger share of the estimated $1.2 trillion home-improvement market. Management says the changes are intended to strengthen the core business, improve innovation and win more professional customers. The Home Depot Announces Organizational Realignment
• Positive Sentiment: Greater investment in digital advertising: Home Depot is reportedly among the major brands increasing advertising on ChatGPT as OpenAI expands its mobile advertising business. If effective, the channel could help the retailer reach consumers researching home projects and drive online sales. Brands Betting Bigger on ChatGPT Ads

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Home Depot from $375.00 to $360.00 and set an “overweight” rating for the company in a research note on Wednesday, May 20th. Argus dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating and set a $346.00 price objective on shares of Home Depot in a report on Wednesday, May 20th. Wall Street Zen raised shares of Home Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Gordon Haskett upped their target price on shares of Home Depot from $320.00 to $330.00 in a report on Friday, June 12th. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $371.71.

Home Depot Price Performance

Shares of NYSE:HD opened at $332.72 on Friday. 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 stock’s fifty day simple moving average is $332.42 and its two-hundred day simple moving average is $344.08. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The stock has a market cap of $331.77 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.02. The firm had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.56 EPS. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were given a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio is presently 66.19%.

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.