Palisade Capital Management LP Takes $8.24 Million Position in The Home Depot

Palisade Capital Management LP recently acquired a new position in The Home Depot, Inc. (NYSE:HD) worth approximately $8.24 million. According to its most recent filing with the Securities and Exchange Commission (SEC), the fund purchased 23,359 shares of the home improvement retailer's stock.

This is not an isolated incident, as other hedge funds have also recently made significant changes to their positions in The Home Depot. BlackRock Inc., for instance, acquired a new stake in the company worth around $28.77 billion in the second quarter. State Street Corp increased its holdings by 1.8% during the fourth quarter and now owns approximately 46.93 million shares of the stock.

Home Depot's latest earnings report exceeded analysts' expectations, with the company reporting $4.92 EPS for the quarter, topping estimates of $4.73. The business also reported a revenue increase of 5.7% year-over-year, reaching $47.86 billion during the quarter.