Home Depot (HD) Stock: Gates Foundation Buys $352M Stake After Q2 Earnings Beat
TLDR
- The Bill & Melinda Gates Foundation Trust opened a new $352.7 million position in Home Depot (HD), buying 1 million shares.
- The trust funded the move partly by cutting its Berkshire Hathaway stake by around $818 million.
- Home Depot reported Q2 net sales of $47.9 billion, up 5.7% year-over-year, with EPS of $4.92 beating estimates of $4.73.
- HD stock traded at $334.49 as of August 20, down 1.41% year-to-date and 14.53% over the past year.
- Bank of America holds a Buy rating with a $407 price target, implying around 22% upside from current levels.
The Bill & Melinda Gates Foundation Trust made a notable portfolio move in Q2, opening a new $352.7 million position in Home Depot (HD) while trimming its Berkshire Hathaway stake by roughly $818 million. HD was trading at $334.49 as of August 20, down 1.41% year-to-date and 14.53% over the past year.
The trust now holds 1 million shares of Home Depot. The portfolio it sits in manages $34.42 billion in 13F securities, so this is a deliberate opening position, not a casual add.
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