Penobscot Investment Management Company Inc. Reduces Stock Position in The Home Depot, Inc. $HD

Penobscot Investment Management Company Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 19.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,628 shares of the home improvement retailer’s stock after selling 8,019 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $11,507,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HD. Advocate Investing Services LLC purchased a new position in Home Depot in the 4th quarter valued at approximately $25,000. Parvin Asset Management LLC boosted its position in Home Depot by 110.0% during the third quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 33 shares in the last quarter. Cache Advisors LLC acquired a new stake in Home Depot in the first quarter valued at $27,000. Merkkuri Wealth Advisors LLC acquired a new stake in Home Depot in the first quarter valued at $28,000. Finally, Abound Financial LLC acquired a new stake in Home Depot in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

More Home Depot News

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

• Positive Sentiment: Q2 beat expectations: Adjusted EPS was $4.92 versus the $4.73 consensus, while revenue rose 5.7% year over year to $47.86 billion, exceeding estimates of roughly $47.2 billion. Home Depot reaffirms guidance amid frozen housing market conditions
• Positive Sentiment: Comparable sales improved: Total comparable sales increased 1.7%, the best performance since 2022, with U.S. comps up 1.3%. Smaller repair, maintenance and DIY projects helped offset weakness in large renovations. Home Depot beats quarterly sales estimates on steady repair demand
• Positive Sentiment: Pro and digital momentum: Professional-customer demand, project activity and record online sales supported results. Nationwide Express Delivery, using more than 2,000 stores as local fulfillment hubs, could improve convenience, order frequency and customer retention. The Home Depot expands nationwide express delivery
• Positive Sentiment: Analyst support: Guggenheim, Argus and DA Davidson reaffirmed Buy ratings, with price targets ranging from $377 to $425, suggesting additional upside if the housing market recovers.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Home Depot from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. HSBC dropped their target price on shares of Home Depot from $392.00 to $310.00 and set a “hold” rating for the company in a report on Wednesday, May 20th. Stifel Nicolaus lifted their target price on shares of Home Depot from $320.00 to $340.00 and gave the stock a “hold” rating in a research report on Monday. Gordon Haskett upped their price target on shares of Home Depot from $320.00 to $330.00 in a report on Friday, June 12th. Finally, Bank of America started coverage on shares of Home Depot in a research report on Tuesday, May 5th. They issued a “buy” rating and a $374.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $375.54.

Home Depot Stock Performance

Home Depot stock opened at $343.91 on Thursday. The firm has a market capitalization of $342.92 billion, a P/E ratio of 24.07, a PEG ratio of 4.06 and a beta of 0.95. The stock has a fifty day moving average price of $340.56 and a 200 day moving average price of $340.77. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The company has a current ratio of 1.08, a quick ratio of 0.28 and a debt-to-equity ratio of 2.64.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.73 by $0.19. Home Depot had a return on equity of 106.42% and a net margin of 8.41%.The firm had revenue of $47.86 billion for the quarter, compared to analyst estimates of $47.24 billion. During the same period last year, the company earned $4.68 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

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.