Cardinal Capital Management Inc. Increases Position in The Home Depot, Inc. $HD

Cardinal Capital Management Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 26.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 120,109 shares of the home improvement retailer’s stock after buying an additional 25,048 shares during the period. Home Depot accounts for 1.0% of Cardinal Capital Management Inc.’s portfolio, making the stock its 28th largest position. Cardinal Capital Management Inc.’s holdings in Home Depot were worth $42,360,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Curio Wealth LLC boosted its holdings in Home Depot by 13.5% during the 4th quarter. Curio Wealth LLC now owns 218 shares of the home improvement retailer’s stock valued at $76,000 after acquiring an additional 26 shares during the period. Alesco Advisors LLC increased its stake in Home Depot by 3.2% in the fourth quarter. Alesco Advisors LLC now owns 866 shares of the home improvement retailer’s stock worth $298,000 after purchasing an additional 27 shares during the period. Canandaigua National Trust Co of Florida increased its stake in Home Depot by 1.3% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 2,178 shares of the home improvement retailer’s stock worth $749,000 after purchasing an additional 27 shares during the period. Moneco Advisors LLC lifted its position in shares of Home Depot by 0.3% during the fourth quarter. Moneco Advisors LLC now owns 8,743 shares of the home improvement retailer’s stock worth $3,008,000 after purchasing an additional 27 shares during the last quarter. Finally, Noesis Capital Mangement Corp boosted its stake in shares of Home Depot by 1.5% during the fourth quarter. Noesis Capital Mangement Corp now owns 1,770 shares of the home improvement retailer’s stock valued at $609,000 after purchasing an additional 27 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Mizuho cut their price target on shares of Home Depot from $415.00 to $385.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. Oppenheimer decreased their price objective on shares of Home Depot from $405.00 to $310.00 and set a “market perform” rating for the company in a report on Monday, May 18th. Morgan Stanley lowered their price objective on shares of Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a research report on Wednesday, May 20th. Wells Fargo & Company upped their target price on shares of Home Depot from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $346.00 target price on shares of Home Depot in a research note on Wednesday, May 20th. Eighteen equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $373.14.

Home Depot Stock Performance

HD stock opened at $353.65 on Wednesday. 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 business has a 50-day moving average price of $337.39 and a 200 day moving average price of $342.43. The company has a market capitalization of $352.63 billion, a P/E ratio of 25.12, a PEG ratio of 4.05 and a beta of 0.95. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The company had revenue of $41.77 billion during the quarter, compared to analyst estimates of $41.59 billion. During the same period in the prior year, the firm earned $3.56 earnings per share. The firm’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. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot’s dividend payout ratio is presently 66.19%.

Home Depot 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.