PCM Encore LLC purchased a new position in The Home Depot, Inc. (NYSE:HD – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 4,338 shares of the home improvement retailer’s stock, valued at approximately $1,530,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gator Capital Management LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $3,693,000. King Luther Capital Management Corp raised its position in Home Depot by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,240,478 shares of the home improvement retailer’s stock worth $426,848,000 after purchasing an additional 7,180 shares during the period. Thompson Siegel & Walmsley LLC raised its position in Home Depot by 320.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 11,292 shares of the home improvement retailer’s stock worth $3,886,000 after purchasing an additional 8,606 shares during the period. Sarasin & Partners LLP lifted its stake in Home Depot by 4.0% in the second quarter. Sarasin & Partners LLP now owns 687,219 shares of the home improvement retailer’s stock worth $242,368,000 after purchasing an additional 26,357 shares during the last quarter. Finally, Capital International Inc. CA boosted its position in shares of Home Depot by 4.3% during the fourth quarter. Capital International Inc. CA now owns 150,368 shares of the home improvement retailer’s stock valued at $51,742,000 after buying an additional 6,187 shares during the period. Institutional investors own 70.86% of the company’s stock.
Home Depot Stock Down 1.8%
Shares of HD stock opened at $328.80 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.31 and a current ratio of 1.08. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The firm has a market capitalization of $328.04 billion, a PE ratio of 23.01, a P/E/G ratio of 3.69 and a beta of 0.95. The stock’s 50-day simple moving average is $341.07 and its 200-day simple moving average is $338.82.
Home Depot Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $2.33 per share. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 dividend on an annualized basis and a yield of 2.8%. Home Depot’s payout ratio is currently 65.22%.
Key Headlines Impacting Home Depot
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Home Depot expanded its Magic Apron AI assistant to all U.S. stores. The tool provides localized product information, project guidance and store navigation through text, voice, images and multiple languages. With millions of questions handled monthly, the rollout could improve customer service, associate productivity and sales conversion. The Home Depot Expands Magic Apron to Deliver Personalized and Localized In-Store Guidance
- Positive Sentiment: Recent analysis argues that Home Depot is showing its clearest turnaround signal in roughly two years. Analysts remain generally constructive, while the company’s recent quarterly results showed revenue growth and earnings above expectations, potentially positioning HD to benefit disproportionately when housing and remodeling demand recover. Prediction: Home Depot’s Turnaround Could Be Bigger Than Investors Expect
- Positive Sentiment: A comparison with Lowe’s suggests Home Depot may be the stronger housing-recovery play, with its scale, professional-customer exposure and strategic execution differentiating it in a frozen housing market. Home Depot vs. Lowe’s: One Housing Recovery Play Stands Out
- Neutral Sentiment: Home Depot beat second-quarter estimates, but coverage highlights a $685 million tariff refund. Because the refund may be a one-time benefit rather than recurring operating improvement, investors may be discounting part of the earnings upside. Home Depot Beat Q2 Estimates. What Did the $685M Tariff Refund Change?
- Negative Sentiment: Executive Vice President Michael F. Rowe sold 710 shares worth approximately $239,100, reducing his direct holdings by 9.4%. The transaction is relatively small and may be routine, but insider selling can add modest sentiment pressure. SEC Insider Transaction Filing
Insiders Place Their Bets
In other news, EVP Michael F. Rowe sold 710 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $336.76, for a total value of $239,099.60. Following the completion of the transaction, the executive vice president owned 6,838 shares of the company’s stock, valued at $2,302,764.88. The trade was a 9.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value of $2,086,567.60. Following the sale, the chief financial officer directly owned 48,104 shares in the company, valued at approximately $16,759,433.60. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on HD shares. TD Cowen reiterated a “buy” rating on shares of Home Depot in a report on Monday, August 10th. Morgan Stanley dropped their price target on Home Depot from $420.00 to $400.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Argus reiterated a “buy” rating and set a $400.00 target price on shares of Home Depot in a report on Wednesday, August 19th. Telsey Advisory Group cut their price target on Home Depot from $435.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Finally, Citigroup dropped their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $375.54.
Get Our Latest Stock Analysis on HD
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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Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Free Report).
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