Home Depot Faces a Shift in Investor Sentiment Following Upgrade
Analyst Outlook Improves for Home Depot
On November 8, 2024, Telsey Advisory Group has upgraded their recommendation for Home Depot (BRSE:HD) from Market Perform to Outperform.
Fund Ownership Trends
A total of 5,089 funds or institutions currently hold positions in Home Depot, marking an increase of 118 owners, or 2.37%, in the past quarter. The average portfolio weight dedicated to HD stands at 0.74%, which is up by 0.09%. Over the last three months, institutional ownership of shares rose by 4.99%, bringing the total to 794,134K shares.
Activity Among Major Shareholders
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 31,317K shares, which accounts for 3.15% ownership of Home Depot. Their previous filing showed ownership of 31,269K shares, indicating a minor increase of 0.15%. However, they have reduced their overall portfolio allocation in HD by 12.60% during the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares owns 25,436K shares, representing 2.56% of the company. The latest filing noted an increase from 25,081K shares, reflecting a growth of 1.39%. Yet, their portfolio allocation in HD decreased by 13.85% over the past quarter.
Capital World Investors holds 25,102K shares, or 2.53% ownership of Home Depot. Their prior ownership was 37,665K shares, which reflects a significant decrease of 50.05%. This institution has also lowered its portfolio allocation in HD by 41.08% in the last quarter.
Geode Capital Management owns 21,267K shares, which is 2.14% ownership of the company. They previously reported ownership of 20,693K shares, marking an increase of 2.70%. Still, their portfolio allocation in HD has decreased by 54.30%.
Bank of America holds 14,189K shares, symbolizing 1.43% ownership. Their last filing indicated 14,671K shares owned previously, a reduction of 3.39%. The bank has cut back its allocation in HD by a notable 79.66% in the past quarter.
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