Glenmede Trust Co. NA Grows Stake in The Home Depot, Inc. $HD

Glenmede Trust Co. NA boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the 1st quarter, HoldingsChannel reports. The firm owned 503,159 shares of the home improvement retailer’s stock after buying an additional 4,328 shares during the period. Home Depot comprises about 0.8% of Glenmede Trust Co. NA’s investment portfolio, making the stock its 24th largest holding. Glenmede Trust Co. NA’s holdings in Home Depot were worth $165,484,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Advocate Investing Services LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $25,000. Parvin Asset Management LLC grew its holdings in Home Depot by 110.0% during the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 33 shares in the last quarter. Cache Advisors LLC bought a new position in Home Depot during the 1st quarter worth about $27,000. Key Capital Management INC purchased a new position in Home Depot during the 4th quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC purchased a new position in Home Depot during the 1st 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

NYSE HD opened at $332.72 on Friday. The firm’s fifty day simple moving average is $332.42 and its two-hundred day simple moving average is $344.08. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The firm has a market capitalization of $331.77 billion, a P/E ratio of 23.63, a P/E/G ratio of 3.85 and a beta of 0.95.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating 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 analyst estimates of $41.59 billion. During the same quarter in the prior year, the business posted $3.56 EPS. 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. Analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio is currently 66.19%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. The Goldman Sachs Group lowered their price target on shares of Home Depot from $409.00 to $390.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Wolfe Research lowered shares of Home Depot from an “outperform” rating to a “peer perform” rating in a report on Tuesday, June 23rd. Robert W. Baird reduced their price objective on shares of Home Depot from $430.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, May 20th. Morgan Stanley lowered their target price on Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Finally, Wells Fargo & Company lowered their target price on Home Depot from $375.00 to $360.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $371.71.

Trending Headlines about Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Leadership realignment targets growth: Home Depot is combining its merchandising, customer experience and Pro-focused operations to create a more seamless customer experience and capture a larger share of the estimated $1.2 trillion home-improvement market. Management says the changes are intended to strengthen the core business, improve innovation and win more professional customers. The Home Depot Announces Organizational Realignment
• Positive Sentiment: Greater investment in digital advertising: Home Depot is reportedly among the major brands increasing advertising on ChatGPT as OpenAI expands its mobile advertising business. If effective, the channel could help the retailer reach consumers researching home projects and drive online sales. Brands Betting Bigger on ChatGPT Ads

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.