Pinnacle West Asset Management Inc. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,349 shares of the home improvement retailer’s stock, valued at approximately $2,945,000. Home Depot comprises about 2.0% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Home Depot during the 2nd quarter worth $28,771,247,000. Norges Bank bought a new stake in shares of Home Depot in the fourth quarter valued at about $4,850,329,000. Bank of New York Mellon Corp bought a new stake in shares of Home Depot in the second quarter valued at about $2,777,396,000. Wellington Management Group LLP grew its stake 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 valued at $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Finally, Cardano Risk Management B.V. grew its position in shares of Home Depot by 901.5% during the 4th quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock worth $1,132,275,000 after purchasing an additional 2,961,979 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.
Trending Headlines about Home Depot
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Home Depot reported fiscal second-quarter sales of $47.86 billion, up 5.7% year over year and its strongest comparable-sales growth since 2022. Adjusted earnings of $4.92 per share exceeded the $4.73 analyst consensus, reinforcing the view that the retailer’s turnaround is gaining traction. The Home Depot Posts Record Sales Growth Amid CEO Leave
- Positive Sentiment: The company expanded its Magic Apron AI shopping assistant to every U.S. store. The tool provides localized product information, project guidance and store navigation through text, voice, images and multiple languages. Its potential to improve customer service, employee productivity and conversion rates supports the long-term growth narrative. The Home Depot Expands Magic Apron
- Neutral Sentiment: Analysts and recent commentary see significant upside if housing and remodeling demand recover, with Home Depot’s scale and professional-customer base viewed as competitive advantages. However, the stock remains below its 50-day and 200-day moving averages, indicating that investors have not fully embraced the turnaround thesis. Home Depot Turnaround Could Be Bigger Than Investors Expect
- Neutral Sentiment: Although Home Depot beat quarterly estimates, a reported $685 million tariff refund may have boosted results. Investors could discount part of the earnings strength if the benefit is viewed as nonrecurring. Home Depot Beat Q2 Estimates
- Negative Sentiment: CEO Ted Decker is on temporary medical leave, creating uncertainty around leadership even as operating performance improves. Separately, EVP Michael Rowe sold 710 shares valued at approximately $239,100, a relatively small transaction but a modest negative sentiment signal. Home Depot EVP Michael Rowe Sells Shares
Analyst Upgrades and Downgrades
Read Our Latest Analysis on HD
Insiders Place Their Bets
In related news, EVP Michael F. Rowe sold 710 shares of the firm’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 sale, the executive vice president directly owned 6,838 shares of the company’s stock, valued at $2,302,764.88. This trade represents a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard V. Mcphail sold 5,989 shares of Home Depot stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $348.40, for a total value of $2,086,567.60. Following the completion of the transaction, the chief financial officer owned 48,104 shares in the company, valued at approximately $16,759,433.60. This represents a 11.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by insiders.
Home Depot Stock Performance
NYSE HD opened at $329.80 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64. The firm has a market capitalization of $329.04 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 3.62 and a beta of 0.95. The firm’s 50 day simple moving average is $340.97 and its 200 day simple moving average is $338.75. The Home Depot, Inc. has a 1 year low of $289.10 and a 1 year high of $426.75.
Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 EPS for the quarter, beating the consensus estimate of $4.73 by $0.19. Home Depot had a net margin of 8.41% and a return on equity of 106.42%. The business had revenue of $47.86 billion during the quarter, compared to the consensus estimate of $47.24 billion. During the same period in the previous year, the business earned $4.68 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.
Home Depot Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be paid a $2.33 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. Home Depot’s dividend payout ratio (DPR) is presently 65.22%.
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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