Cove Private Wealth LLC Has $4.33 Million Stock Position in The Home Depot, Inc. $HD

Cove Private Wealth LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 23.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,592 shares of the home improvement retailer’s stock after buying an additional 2,363 shares during the period. Home Depot makes up 1.3% of Cove Private Wealth LLC’s portfolio, making the stock its 14th largest position. Cove Private Wealth LLC’s holdings in Home Depot were worth $4,333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Home Depot by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock valued at $39,834,241,000 after buying an additional 331,217 shares during the period. Capital Research Global Investors boosted its stake in Home Depot by 0.3% in the 3rd quarter. Capital Research Global Investors now owns 11,400,133 shares of the home improvement retailer’s stock worth $4,619,229,000 after purchasing an additional 30,739 shares during the period. Wellington Management Group LLP boosted its stake in Home Depot by 60.8% in the 3rd quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares during the period. Fisher Asset Management LLC boosted its stake in Home Depot by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,130,293 shares of the home improvement retailer’s stock worth $4,104,694,000 after purchasing an additional 197,211 shares during the period. Finally, Legal & General Group Plc boosted its stake in Home Depot by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 6,181,165 shares of the home improvement retailer’s stock worth $2,504,546,000 after purchasing an additional 116,875 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, CFO Richard V. Mcphail sold 2,550 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total transaction of $940,669.50. Following the completion of the transaction, the chief financial officer directly owned 44,566 shares in the company, valued at $16,439,951.74. This represents a 5.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Up 0.5%

Home Depot stock opened at $342.74 on Wednesday. The firm has a 50-day moving average of $354.91 and a 200-day moving average of $363.46. The Home Depot, Inc. has a one year low of $315.31 and a one year high of $426.75. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.06 and a quick ratio of 0.26. The company has a market cap of $341.38 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 3.73 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 24th. The home improvement retailer reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.20. Home Depot had a net margin of 8.60% and a return on equity of 134.32%. The company had revenue of $38.20 billion during the quarter, compared to the consensus estimate of $38.01 billion. During the same period in the prior year, the business posted $3.13 EPS. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a dividend of $2.33 per share. The ex-dividend date was Thursday, March 12th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is currently 65.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Citigroup upped their target price on shares of Home Depot from $407.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. BNP Paribas Exane reduced their target price on shares of Home Depot from $391.00 to $348.00 and set a “neutral” rating for the company in a research note on Tuesday, March 24th. Piper Sandler reduced their target price on shares of Home Depot from $441.00 to $422.00 and set an “overweight” rating for the company in a research note on Monday, February 23rd. Jefferies Financial Group upped their target price on shares of Home Depot from $424.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley upped their target price on shares of Home Depot from $412.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Twenty research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $414.17.

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.