HD

HSBC Downgrades Home Depot (HD)

Fintel reports that on February 21, 2024, HSBC downgraded their outlook for Home Depot (NYSE:HD) from Hold to Reduce .

Analyst Price Forecast Suggests 3.17% Downside

As of January 19, 2024, the average one-year price target for Home Depot is 351.07. The forecasts range from a low of 247.45 to a high of $420.00. The average price target represents a decrease of 3.17% from its latest reported closing price of 362.57.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Home Depot is 164,075MM, an increase of 7.47%. The projected annual non-GAAP EPS is 17.47.

What is the Fund Sentiment?

There are 4876 funds or institutions reporting positions in Home Depot. This is an increase of 202 owner(s) or 4.32% in the last quarter. Average portfolio weight of all funds dedicated to HD is 0.77%, a decrease of 1.10%. Total shares owned by institutions decreased in the last three months by 0.01% to 793,577K shares. HD / The Home Depot, Inc. Put/Call Ratios The put/call ratio of HD is 1.07, indicating a bearish outlook.

What are Other Shareholders Doing?

HD / The Home Depot, Inc. Shares Held by Institutions

Capital World Investors holds 38,388K shares representing 3.86% ownership of the company. In it's prior filing, the firm reported owning 38,811K shares, representing a decrease of 1.10%. The firm increased its portfolio allocation in HD by 1.85% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 31,143K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 31,335K shares, representing a decrease of 0.62%. The firm increased its portfolio allocation in HD by 0.34% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 24,160K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 24,112K shares, representing an increase of 0.20%. The firm decreased its portfolio allocation in HD by 0.21% over the last quarter.

Geode Capital Management holds 19,995K shares representing 2.01% ownership of the company. In it's prior filing, the firm reported owning 19,683K shares, representing an increase of 1.56%. The firm increased its portfolio allocation in HD by 2.28% over the last quarter.

Capital Research Global Investors holds 14,766K shares representing 1.48% ownership of the company. In it's prior filing, the firm reported owning 13,773K shares, representing an increase of 6.72%. The firm increased its portfolio allocation in HD by 9.85% over the last quarter.

Home Depot Background Information
(This description is provided by the company.)

The Home Depot is the world's largest home improvement specialty retailer, with 2,296 retail stores in all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. In fiscal 2019, The Home Depot had sales of $110.2 billion and earnings of $11.2 billion. The company employs more than 400,000 associates. The Home Depot's stock is traded on the New York Stock Exchange and is included in the Dow Jones industrial average and Standard & Poor's 500 index.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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