The Home Depot, Inc. $HD Shares Bought by Dorsal Capital Management LP

by · The Markets Daily

Dorsal Capital Management LP grew its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 31.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,000 shares of the home improvement retailer’s stock after purchasing an additional 125,000 shares during the quarter. Home Depot comprises approximately 5.1% of Dorsal Capital Management LP’s portfolio, making the stock its 8th largest holding. Dorsal Capital Management LP’s holdings in Home Depot were worth $192,486,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. United Bank raised its holdings in shares of Home Depot by 14.9% during the 1st quarter. United Bank now owns 5,023 shares of the home improvement retailer’s stock worth $1,841,000 after acquiring an additional 653 shares during the period. American Money Management LLC boosted its position in shares of Home Depot by 0.3% during the 1st quarter. American Money Management LLC now owns 23,947 shares of the home improvement retailer’s stock valued at $8,776,000 after acquiring an additional 82 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Home Depot by 9.8% in the first quarter. Sit Investment Associates Inc. now owns 63,148 shares of the home improvement retailer’s stock valued at $23,143,000 after purchasing an additional 5,647 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its position in Home Depot by 98.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 26,647 shares of the home improvement retailer’s stock worth $9,766,000 after purchasing an additional 13,240 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a report on Monday, December 1st. Wells Fargo & Company lowered their price objective on Home Depot from $400.00 to $395.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank Of Canada reduced their target price on Home Depot from $376.00 to $366.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Telsey Advisory Group decreased their price target on Home Depot from $430.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Mizuho increased their price target on Home Depot from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $401.47.

View Our Latest Stock Report on HD

Home Depot Trading Up 1.7%

Shares of NYSE HD opened at $357.18 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.29 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $355.58 billion, a PE ratio of 24.35, a PEG ratio of 6.19 and a beta of 1.06. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $426.75. The stock has a fifty day simple moving average of $369.05 and a 200-day simple moving average of $379.25.

Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion for the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.78 earnings per share. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.6%. Home Depot’s payout ratio is 62.71%.

Home Depot Company Profile

(Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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