The Home Depot, Inc. $HD Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,263 shares of the home improvement retailer’s stock after selling 8,660 shares during the period. Home Depot makes up approximately 1.7% of Confluence Investment Management LLC’s holdings, making the stock its 19th largest holding. Confluence Investment Management LLC’s holdings in Home Depot were worth $109,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advocate Investing Services LLC acquired a new position in Home Depot during the fourth quarter worth $25,000. Parvin Asset Management LLC boosted its position 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 purchasing an additional 33 shares in the last quarter. Cache Advisors LLC acquired a new stake in Home Depot in the first quarter valued at $27,000. Key Capital Management INC purchased a new position in shares of Home Depot in the fourth quarter valued at $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in shares of Home Depot in the first quarter valued at $28,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 2.3%

Home Depot stock opened at $339.74 on Tuesday. The stock has a 50-day moving average price of $332.95 and a 200 day moving average price of $343.58. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The stock has a market cap of $338.76 billion, a PE ratio of 24.13, a P/E/G ratio of 3.83 and a beta of 0.95. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 annualized dividend and a yield of 2.7%. Home Depot’s payout ratio is 66.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HD shares. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $423.00 to $396.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Royal Bank Of Canada dropped their target price on shares of Home Depot from $377.00 to $340.00 and set a “sector perform” rating for the company in a report on Wednesday, May 20th. Evercore cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, May 20th. Mizuho reduced their price target on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Finally, Wells Fargo & Company lowered their price target on shares of Home Depot from $375.00 to $360.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock 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.