Joseph Group Capital Management Acquires 3,692 Shares of The Home Depot, Inc. $HD

Joseph Group Capital Management lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 16.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,636 shares of the home improvement retailer’s stock after purchasing an additional 3,692 shares during the quarter. Home Depot comprises about 1.3% of Joseph Group Capital Management’s portfolio, making the stock its 26th biggest position. Joseph Group Capital Management’s holdings in Home Depot were worth $7,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zeit Capital LLC acquired a new position in shares of Home Depot during the second quarter valued at about $26,000. Next Level Wealth Planning LLC purchased a new position in shares of Home Depot in the 3rd quarter valued at approximately $28,000. Principia Wealth Advisory LLC boosted its stake in Home Depot by 60.4% in the 2nd quarter. Principia Wealth Advisory LLC now owns 85 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 32 shares in the last quarter. Navigoe LLC acquired a new stake in Home Depot in the 2nd quarter worth approximately $32,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the 3rd quarter worth approximately $32,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Home Depot

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

• Positive Sentiment: JPMorgan raised its price target to $400 from $396 and maintained an “overweight” rating, implying potential upside from the share price cited in the report. JPMorgan rating information
• Positive Sentiment: HD rose in the latest trading session and outperformed the broader market, according to reports. Home Depot rises higher than market
• Neutral Sentiment: Analysts remain cautiously optimistic about Home Depot’s outlook despite the stock’s underperformance relative to the broader market over the past year. Home Depot analyst estimates and ratings
• Negative Sentiment: A housing slowdown, costly debt and a high valuation are cited as challenges, while the stock’s lack of progress over the past five years may weigh on investor confidence. Home Depot’s long-term shareholder returns and challenges

Analyst Ratings Changes

Several research firms have weighed in on HD. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $396.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Home Depot in a report on Friday, October 2nd. Mizuho raised their price target on shares of Home Depot from $385.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Stifel Nicolaus lowered their price objective on shares of Home Depot from $346.00 to $322.00 and set a “hold” rating for the company in a research note on Monday, October 26th. Finally, Truist Financial boosted their price objective on shares of Home Depot from $369.00 to $373.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.45.

Home Depot Trading Up 3.0%

Shares of NYSE:HD opened at $353.77 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 1.08 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a 52-week low of $277.15 and a 52-week high of $397.63. The stock has a market cap of $352.95 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.53 and a beta of 0.93. The business has a 50-day moving average price of $309.90 and a 200-day moving average price of $333.92.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%. The firm had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same quarter in the prior year, the firm earned $4.68 earnings per share. Home Depot’s revenue for the quarter was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were issued a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, September 3rd. Home Depot’s dividend payout ratio is 65.22%.

Insider Buying and Selling at Home Depot

In related news, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer owned 48,104 shares of the company’s stock, valued at $16,759,433.60. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael F. Rowe sold 710 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total transaction of $239,099.60. Following the transaction, the executive vice president directly owned 6,838 shares of the company’s stock, valued at approximately $2,302,764.88. This trade represents a 9.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,829 shares of company stock valued at $3,339,314 over the last quarter. Insiders own 0.08% of the company’s stock.

Home Depot Company Profile

The Home Depot, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and other businesses. The company sells building materials, tools, hardware, appliances, paint, flooring, and products for home maintenance, repair and renovation, as well as lawn and garden supplies.

In addition to its retail stores and online channels, Home Depot offers services such as product delivery, equipment rental and home improvement installation. The company was founded in 1978 and is headquartered in Atlanta, Georgia.