DNB Asset Management AS Increases Stock Holdings in The Home Depot, Inc. $HD

DNB Asset Management AS lifted its position in The Home Depot, Inc. (NYSE:HD) by 2.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 205,394 shares of the home improvement retailer’s stock after purchasing an additional 4,408 shares during the period. DNB Asset Management AS’s holdings in Home Depot were worth $70,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Wellington Management Group LLP lifted its holdings in shares of Home Depot by 60.8% in the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after buying an additional 3,836,051 shares in the last quarter. Vanguard Group Inc. grew its position in Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after buying an additional 1,325,748 shares in the last quarter. Franklin Resources Inc. increased its stake in Home Depot by 37.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,806,308 shares of the home improvement retailer’s stock worth $1,542,278,000 after acquiring an additional 1,040,577 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Home Depot by 215.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,248,615 shares of the home improvement retailer’s stock worth $429,648,000 after acquiring an additional 852,719 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Home Depot in the 3rd quarter valued at about $284,893,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Key Home Depot News

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

• Positive Sentiment: Telsey Advisory reiterated a Buy rating on Home Depot, suggesting at least one Wall Street firm still sees value in the shares despite recent volatility.
• Positive Sentiment: Some commentary has highlighted Home Depot as a potential beneficiary if housing turnover and mortgage-rate conditions improve, which could support future sales and earnings.
• Neutral Sentiment: Investors are watching Home Depot closely ahead of earnings on May 19, with articles focusing on whether pro demand, digital tools, and repair projects can offset a weaker housing backdrop.
• Neutral Sentiment: Jim Cramer said Home Depot can perform well in a lower-rate environment, but also noted the stock needs stronger housing turnover to really accelerate.
• Negative Sentiment: Sanford C. Bernstein cut its price target on Home Depot to $365 from $390 and kept a Market Perform rating, reflecting a more cautious view on near-term upside.
• Negative Sentiment: A new class-action lawsuit reportedly pressured the stock, adding legal uncertainty at an already sensitive time for investors.
• Negative Sentiment: Recent pre-earnings pullback and broader worries about housing turnover have also weighed on sentiment, helping explain why Home Depot stock has been moving lower.

Insider Activity

In other news, CFO Richard V. Mcphail sold 2,550 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the transaction, the chief financial officer directly owned 44,566 shares in the company, valued at approximately $16,439,951.74. This represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Home Depot Price Performance

HD opened at $297.34 on Friday. The stock has a 50-day moving average price of $331.77 and a 200-day moving average price of $354.39. The Home Depot, Inc. has a 12-month low of $296.88 and a 12-month high of $426.75. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62. The stock has a market capitalization of $296.16 billion, a P/E ratio of 20.90, a PEG ratio of 3.51 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.20. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The firm had revenue of $38.20 billion during the quarter, compared to analysts’ expectations of $38.01 billion. During the same period in the prior year, the business earned $3.13 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.03 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Thursday, March 12th. This is an increase from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is currently 65.50%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HD. Evercore dropped their price target on Home Depot from $425.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Zacks Research upgraded Home Depot from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Citigroup dropped their price target on Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley lifted their price target on Home Depot from $412.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Finally, Daiwa Securities Group lifted their price target on Home Depot from $360.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, February 26th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $405.66.

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.