Magellan Asset Management Ltd Acquires 10,221 Shares of The Home Depot, Inc. $HD

Magellan Asset Management Ltd boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 5,678.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,401 shares of the home improvement retailer’s stock after buying an additional 10,221 shares during the quarter. Magellan Asset Management Ltd’s holdings in Home Depot were worth $3,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Home Depot by 7.1% in the second quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer’s stock worth $952,000 after purchasing an additional 173 shares during the period. Schnieders Capital Management LLC. boosted its position in shares of Home Depot by 14.1% in the second quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer’s stock worth $4,248,000 after purchasing an additional 1,433 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Home Depot in the second quarter worth approximately $1,773,000. Finally, Financial Advisors Network Inc. boosted its position in shares of Home Depot by 11.3% in the second quarter. Financial Advisors Network Inc. now owns 2,368 shares of the home improvement retailer’s stock worth $868,000 after purchasing an additional 241 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HD shares. Bank of America started coverage on shares of Home Depot in a research report on Tuesday, May 5th. They issued a “buy” rating and a $374.00 price target for the company. Citigroup dropped their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Truist Financial dropped their price target on shares of Home Depot from $394.00 to $369.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. UBS Group lowered their target price on shares of Home Depot from $450.00 to $430.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Finally, DA Davidson lowered their target price on shares of Home Depot from $445.00 to $377.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Nineteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.36.

Home Depot News Summary

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

• Negative Sentiment: A TipRanks article says Home Depot is slipping as a new major competitor emerges, adding to concerns that the company may face more pricing and traffic pressure in an already challenging market. Home Depot Stock (NYSE:HD) Slips as New Major Competitor Emerges
• Neutral Sentiment: Jefferies slightly lowered its price target on Home Depot to $360 from $361 while keeping a Buy rating, signaling continued analyst support even though the stock may have limited near-term upside from current levels. Jefferies Adjusts Price Target on Home Depot to $360 From $361, Maintains Buy Rating
• Neutral Sentiment: Recent commentary from The Motley Fool highlighted that Home Depot remains a cyclical business tied to household balance sheets and consumer confidence, but also noted its strength with professional customers, suggesting a mixed outlook rather than a clear catalyst. 3 Things to Know About Home Depot Stock Before You Buy
• Positive Sentiment: Analyst coverage and recent articles have pointed to meaningful upside potential for Home Depot (HD) if valuation support and better housing trends materialize, which could help limit downside and attract dip buyers. How High Can Home Depot’s Stock (HD) Price Rise?

Home Depot Price Performance

Home Depot stock opened at $310.30 on Friday. The company has a market cap of $309.41 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 3.61 and a beta of 0.97. The firm’s fifty day moving average is $323.38 and its 200 day moving average is $348.00. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 52-week low of $289.10 and a 52-week high of $426.75.

Home Depot (NYSE:HD) last released 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 company had revenue of $41.77 billion for the quarter, compared to the consensus estimate 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 was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.56 earnings per share. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a yield of 3.0%. Home Depot’s dividend payout ratio is presently 66.19%.

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.