Pinnacle West Asset Management Inc. Purchases Shares of 8,349 The Home Depot, Inc. $HD

Pinnacle West Asset Management Inc. purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,349 shares of the home improvement retailer’s stock, valued at approximately $2,945,000. Home Depot makes up approximately 2.0% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Home Depot in the second quarter worth $28,771,247,000. State Street Corp grew its position in Home Depot by 1.8% in the fourth quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock valued at $16,147,010,000 after purchasing an additional 825,164 shares in the last quarter. Geode Capital Management LLC increased its stake in Home Depot by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer’s stock valued at $8,151,344,000 after buying an additional 343,153 shares during the last quarter. Bank of America Corp DE lifted its position in Home Depot by 1.6% during the 1st quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer’s stock worth $5,365,629,000 after buying an additional 250,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer’s stock worth $5,323,620,000 after buying an additional 1,113,114 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on HD. Piper Sandler lowered their target price on Home Depot from $422.00 to $421.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 20th. Stifel Nicolaus increased their price target on Home Depot from $320.00 to $340.00 and gave the company a “hold” rating in a research report on Monday, August 17th. Guggenheim restated a “buy” rating and issued a $425.00 price target on shares of Home Depot in a research note on Wednesday, August 19th. DA Davidson reaffirmed a “buy” rating and set a $377.00 price target on shares of Home Depot in a research report on Wednesday, August 19th. Finally, Gordon Haskett upped their price objective on Home Depot from $320.00 to $330.00 in a research note on Friday, June 12th. Eighteen 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.54.

Home Depot Trading Up 0.4%

Home Depot stock opened at $329.80 on Friday. The stock has a 50-day simple moving average of $340.97 and a 200 day simple moving average of $338.75. The stock has a market capitalization of $329.04 billion, a P/E ratio of 23.08, a PEG ratio of 3.62 and a beta of 0.95. 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 52 week low of $289.10 and a 52 week high of $426.75.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The company had revenue of $47.86 billion during the quarter, compared to analysts’ expectations of $47.24 billion. During the same period last year, the firm posted $4.68 earnings per share. The business’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. Analysts expect that The Home Depot, Inc. will post 15 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $2.33 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $9.32 annualized dividend and a yield of 2.8%. Home Depot’s dividend payout ratio (DPR) is currently 65.22%.

Insiders Place Their Bets

In other news, CFO Richard V. Mcphail sold 5,989 shares of the 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 transaction, the chief financial officer directly owned 48,104 shares of the company’s stock, valued at $16,759,433.60. This represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $239,099.60. Following the sale, the executive vice president owned 6,838 shares of the company’s stock, valued at approximately $2,302,764.88. This represents a 9.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

Key Headlines Impacting 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

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.