Channel Wealth LLC Purchases 7,762 Shares of The Home Depot, Inc. $HD

Channel Wealth LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 711.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,853 shares of the home improvement retailer’s stock after purchasing an additional 7,762 shares during the period. Channel Wealth LLC’s holdings in Home Depot were worth $3,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Silphium Asset Management Ltd raised its holdings in shares of Home Depot by 77.2% in the third quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer’s stock valued at $5,488,000 after buying an additional 5,900 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Home Depot by 0.3% in the third quarter. Truist Financial Corp now owns 1,095,113 shares of the home improvement retailer’s stock valued at $443,729,000 after buying an additional 3,608 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Home Depot by 59.9% in the third quarter. Atlantic Union Bankshares Corp now owns 107,438 shares of the home improvement retailer’s stock valued at $43,533,000 after buying an additional 40,232 shares during the last quarter. Savvy Advisors Inc. raised its holdings in shares of Home Depot by 36.0% in the fourth quarter. Savvy Advisors Inc. now owns 19,478 shares of the home improvement retailer’s stock valued at $6,703,000 after buying an additional 5,152 shares during the last quarter. Finally, Carnegie Investment Counsel raised its holdings in shares of Home Depot by 24.8% in the fourth quarter. Carnegie Investment Counsel now owns 108,306 shares of the home improvement retailer’s stock valued at $37,268,000 after buying an additional 21,545 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Home Depot in a research report on Tuesday. They issued a “buy” rating and a $374.00 price objective for the company. Piper Sandler dropped their price objective on shares of Home Depot from $441.00 to $422.00 and set an “overweight” rating for the company in a research report on Monday, February 23rd. DA Davidson boosted their price objective on shares of Home Depot from $407.00 to $445.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Sanford C. Bernstein boosted their price objective on shares of Home Depot from $381.00 to $390.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley boosted their price objective on shares of Home Depot from $412.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Twenty research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $412.24.

Home Depot Price Performance

Shares of HD stock opened at $317.43 on Friday. The Home Depot, Inc. has a 12-month low of $310.40 and a 12-month high of $426.75. The firm has a market capitalization of $316.17 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 3.72 and a beta of 1.00. The company has a quick ratio of 0.26, a current ratio of 1.06 and a debt-to-equity ratio of 3.62. The firm has a fifty day moving average of $339.65 and a 200-day moving average of $357.57.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The company had revenue of $38.20 billion during the quarter, compared to analyst estimates of $38.01 billion. During the same quarter in the previous year, the business earned $3.13 EPS. The firm’s revenue was down 3.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.03 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were given a $2.33 dividend. The ex-dividend date was Thursday, March 12th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. This is a boost from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s payout ratio is presently 65.50%.

Insider Activity

In related news, CFO Richard V. Mcphail sold 2,550 shares of the business’s stock in a transaction that occurred on 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. The trade was a 5.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Home Depot Company 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.