California Public Employees Retirement System Trims Stock Holdings in The Home Depot, Inc. $HD

California Public Employees Retirement System reduced its position in The Home Depot, Inc. (NYSE:HD) by 12.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,118,312 shares of the home improvement retailer’s stock after selling 298,690 shares during the quarter. California Public Employees Retirement System’s holdings in Home Depot were worth $696,692,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Advocate Investing Services LLC purchased a new stake in Home Depot in the 4th quarter valued at $25,000. Parvin Asset Management LLC increased its stake in Home Depot by 110.0% in the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 33 shares during the period. Cache Advisors LLC purchased a new stake in shares of Home Depot in the first quarter valued at about $27,000. Key Capital Management INC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in shares of Home Depot in the first quarter valued at about $28,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $339.22 on Friday. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75. The stock’s 50 day moving average is $326.96 and its two-hundred day moving average is $345.24. The firm has a market capitalization of $338.24 billion, a PE ratio of 24.09, a P/E/G ratio of 4.02 and a beta of 0.95. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23.

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

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio is currently 66.19%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research reports. Wall Street Zen raised Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Royal Bank Of Canada reduced their price objective on Home Depot from $377.00 to $340.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 20th. Wolfe Research cut Home Depot from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 23rd. TD Cowen lowered their target price on Home Depot from $450.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Truist Financial cut their price target on Home Depot from $394.00 to $369.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $371.71.

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.