Cullinan Associates Inc. Sells 2,723 Shares of The Home Depot, Inc. $HD

Cullinan Associates Inc. reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.1% during the 1st quarter, HoldingsChannel reports. The firm owned 27,278 shares of the home improvement retailer’s stock after selling 2,723 shares during the period. Cullinan Associates Inc.’s holdings in Home Depot were worth $8,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Home Depot by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock valued at $34,284,672,000 after purchasing an additional 1,325,748 shares during the period. State Street Corp lifted its position in shares of Home Depot by 1.8% in the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock worth $16,147,010,000 after purchasing an additional 825,164 shares during the period. Geode Capital Management LLC increased its holdings 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 period. Bank of America Corp DE raised its stake in Home Depot by 5.6% in the fourth quarter. Bank of America Corp DE now owns 16,063,532 shares of the home improvement retailer’s stock worth $5,527,461,000 after buying an additional 851,029 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in 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 valued at $5,323,620,000 after acquiring an additional 1,113,114 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on HD shares. Argus reduced their price target on Home Depot from $425.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, May 21st. Truist Financial dropped their price objective on Home Depot from $394.00 to $369.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $346.00 target price on shares of Home Depot in a report on Wednesday, May 20th. Stifel Nicolaus decreased their price target on shares of Home Depot from $375.00 to $320.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Finally, Evercore lowered their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $371.71.

Home Depot Stock Up 1.4%

HD stock traded up $4.71 on Friday, hitting $343.44. 2,747,430 shares of the company’s stock were exchanged, compared to its average volume of 4,667,555. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The firm has a 50 day moving average price of $325.05 and a two-hundred day moving average price of $345.46. The company has a debt-to-equity ratio of 3.23, a quick ratio of 0.28 and a current ratio of 1.04. The stock has a market cap of $342.45 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.96 and a beta of 0.95.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio (DPR) is presently 66.19%.

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.