Mangrove Partners IM LLC Invests $962,000 in The Home Depot, Inc. $HD

Mangrove Partners IM LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,796 shares of the home improvement retailer’s stock, valued at approximately $962,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Home Depot by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after acquiring an additional 1,325,748 shares during the last quarter. State Street Corp boosted its stake in shares of Home Depot by 1.8% in the fourth quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer’s stock worth $16,147,010,000 after acquiring an additional 825,164 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer’s stock worth $8,151,344,000 after acquiring an additional 343,153 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer’s stock worth $5,323,620,000 after acquiring an additional 1,113,114 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $4,850,329,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HD shares. Truist Financial lowered their price objective on Home Depot from $394.00 to $369.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Citigroup lowered their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Morgan Stanley lowered their price objective on Home Depot from $420.00 to $400.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price objective on Home Depot from $423.00 to $396.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Finally, Evercore lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 20th. Nineteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $371.71.

Home Depot Stock Performance

Shares of Home Depot stock opened at $336.85 on Wednesday. The Home Depot, Inc. has a 52 week low of $289.10 and a 52 week high of $426.75. The business’s fifty day simple moving average is $322.91 and its 200-day simple moving average is $346.83. The firm has a market cap of $335.88 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.81 and a beta of 0.97. The company has a quick ratio of 0.28, a current ratio of 1.04 and a debt-to-equity ratio of 3.23.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 business had revenue of $41.77 billion for the quarter, compared to analyst estimates of $41.59 billion. During the same quarter in the prior year, the company posted $3.56 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.690-15.278 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $2.33 dividend. This represents a $9.32 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, June 4th. Home Depot’s dividend payout ratio is 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.