Norges Bank Purchases New Shares in The Home Depot, Inc. $HD

Norges Bank purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 14,095,697 shares of the home improvement retailer’s stock, valued at approximately $4,850,329,000. Home Depot accounts for approximately 0.5% of Norges Bank’s portfolio, making the stock its 26th largest position.

Several other hedge funds also recently made changes to their positions in HD. Vanguard Group Inc. raised its stake in Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after buying an additional 1,325,748 shares during the last quarter. Geode Capital Management LLC raised its stake in Home Depot by 1.5% during the fourth 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. Capital Research Global Investors raised its stake in Home Depot by 0.3% during the third quarter. Capital Research Global Investors now owns 11,400,133 shares of the home improvement retailer’s stock valued at $4,619,229,000 after buying an additional 30,739 shares during the last quarter. Wellington Management Group LLP raised its stake in Home Depot by 60.8% during 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 during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Home Depot by 2.0% during the third quarter. Fisher Asset Management LLC now owns 10,130,293 shares of the home improvement retailer’s stock valued at $4,104,694,000 after buying an additional 197,211 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Down 1.2%

HD stock opened at $317.41 on Friday. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The business has a fifty day moving average price of $324.70 and a 200-day moving average price of $349.76. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The stock has a market capitalization of $316.15 billion, a P/E ratio of 22.54, a P/E/G ratio of 3.71 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The firm had revenue of $41.77 billion during the quarter, compared to analysts’ expectations of $41.59 billion. During the same quarter in the previous year, the business earned $3.56 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.02 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $2.33 dividend. The ex-dividend date is Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. Home Depot’s payout ratio is currently 66.19%.

Insider Buying and Selling at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of the business’s stock in a transaction 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 owned 44,566 shares in the company, valued at $16,439,951.74. The trade was a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Argus lowered their price objective on Home Depot from $425.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, May 21st. Royal Bank Of Canada lowered 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. TD Cowen lowered their price objective on Home Depot from $450.00 to $375.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Jefferies Financial Group lowered their price objective on Home Depot from $454.00 to $361.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Finally, BNP Paribas Exane lowered their price objective on Home Depot from $348.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Twenty equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $371.39.

About Home Depot

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.