Merit Financial Group LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,902 shares of the home improvement retailer’s stock after acquiring an additional 19,584 shares during the quarter. Merit Financial Group LLC’s holdings in Home Depot were worth $35,586,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advocate Investing Services LLC purchased a new stake in shares of Home Depot during the 4th 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 valued at $26,000 after purchasing an additional 33 shares in the last quarter. Cache Advisors LLC purchased a new position in Home Depot in the first quarter valued at about $27,000. Key Capital Management INC purchased a new position in Home Depot in the fourth quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC bought a new position in Home Depot in the first quarter worth about $28,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.
Home Depot News Roundup
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Wells Fargo raised its price target for Home Depot (HD) to $400, indicating potential upside from current levels. Wells Fargo Raises Home Depot Price Target
- Positive Sentiment: Analysts at Zacks see a possibility that Home Depot will again exceed earnings expectations, citing its history of positive surprises and favorable earnings indicators. Estimates for the upcoming quarter call for approximately $4.73 in earnings per share and $47.24 billion in revenue. Home Depot Earnings Surprise Outlook
- Positive Sentiment: The bankruptcy filing of a smaller hardware rival could modestly benefit Home Depot by reducing competition, although the broader home-improvement market remains pressured by weak housing activity and cautious renovation spending. Hardware Rival Files for Bankruptcy
- Neutral Sentiment: Wall Street is focused on Home Depot’s second-quarter operating metrics beyond revenue and earnings, including customer traffic, comparable-store sales, margins and guidance for the remainder of fiscal 2026. Home Depot Q2 Key Metrics Preview
- Negative Sentiment: CEO, Chair and President Ted Decker is taking a temporary medical leave expected to last several months. CFO Richard McPhail and Executive Vice President Ann-Marie Campbell will oversee the company, but the timing—just days before earnings—adds leadership uncertainty and could amplify the market’s reaction to guidance. Home Depot CEO Medical Leave
- Negative Sentiment: Rising fuel costs may pressure consumers and increase transportation and operating expenses across retail, while the sluggish housing market continues to delay larger do-it-yourself and professional renovation projects. Rising Fuel Costs and Home Depot
- Negative Sentiment: Bernstein maintained a Hold rating, and some analysts argue the stock is already priced for a housing and consumer-spending recovery ahead of confirmation in the upcoming report. Bernstein Maintains Hold Rating
Home Depot Stock Down 0.6%
Home Depot (NYSE:HD – Get Free Report) last issued its quarterly 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. The business had revenue of $41.77 billion for 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%. Home Depot’s revenue for the quarter 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. Analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.
Home Depot Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were paid a $2.33 dividend. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 2.7%. Home Depot’s dividend payout ratio (DPR) is 66.19%.
Analysts Set New Price Targets
HD has been the subject of several analyst reports. Guggenheim reissued a “buy” rating and set a $425.00 price target on shares of Home Depot in a research report on Monday, July 20th. Wolfe Research downgraded shares of Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. Mizuho reduced their price objective on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Gordon Haskett raised their target price on shares of Home Depot from $320.00 to $330.00 in a research note on Friday, June 12th. Finally, Bank of America began coverage on shares of Home Depot in a report on Tuesday, May 5th. They issued a “buy” rating and a $374.00 price target on the stock. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $373.18.
Read Our Latest Analysis on Home Depot
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.
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