Clearline Capital LP Purchases New Stake in The Home Depot, Inc. $HD

Clearline Capital LP purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,308 shares of the home improvement retailer’s stock, valued at approximately $1,482,000.

A number of other institutional investors have also recently modified their holdings of HD. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $4,850,329,000. Wellington Management Group LLP boosted 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 buying an additional 3,836,051 shares in the last quarter. Cardano Risk Management B.V. boosted its stake in shares of Home Depot by 901.5% in the fourth quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer’s stock valued at $1,132,275,000 after buying an additional 2,961,979 shares in the last quarter. J. Stern & Co. LLP boosted its stake in shares of Home Depot by 14,869.3% in the fourth quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer’s stock valued at $768,210,000 after buying an additional 2,217,607 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in shares of Home Depot by 712.3% in the fourth quarter. Parnassus Investments LLC now owns 2,080,538 shares of the home improvement retailer’s stock valued at $715,913,000 after buying an additional 1,824,409 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HD shares. Wall Street Zen raised Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Telsey Advisory Group reduced their price objective on Home Depot from $435.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Oppenheimer reduced their price objective on Home Depot from $405.00 to $310.00 and set a “market perform” rating for the company in a report on Monday, May 18th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Home Depot in a report on Tuesday, May 19th. Finally, Truist Financial reduced their price objective on Home Depot from $394.00 to $369.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Nineteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $371.71.

Home Depot Stock Performance

NYSE HD opened at $327.69 on Thursday. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The stock has a market cap of $326.74 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 3.89 and a beta of 0.97. The business has a fifty day moving average of $322.94 and a 200-day moving average of $346.63. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company had revenue of $41.77 billion during the quarter, compared to analysts’ expectations of $41.59 billion. During the same period in the previous year, the firm posted $3.56 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, June 4th. Home Depot’s payout ratio is 66.19%.

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.