Traynor Capital Management Inc. Grows Stake in The Home Depot, Inc. (NYSE:HD)

Traynor Capital Management Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,702 shares of the home improvement retailer’s stock after purchasing an additional 1,279 shares during the quarter. Home Depot comprises about 1.5% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 10th biggest position. Traynor Capital Management Inc.’s holdings in Home Depot were worth $14,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. VisionPoint Advisory Group LLC bought a new position in Home Depot in the 2nd quarter worth $26,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the 1st quarter worth $27,000. KB Financial Partners LLC acquired a new stake in Home Depot in the 1st quarter worth $28,000. Studio Investment Management LLC acquired a new stake in Home Depot in the 4th quarter worth $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the 1st quarter worth $37,000. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Home Depot Stock Performance

Shares of HD traded down $2.29 during trading hours on Friday, hitting $383.60. The company had a trading volume of 4,108,328 shares, compared to its average volume of 3,355,391. The firm has a market cap of $380.16 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.55 and a beta of 0.99. The business has a fifty day moving average of $368.47 and a 200-day moving average of $334.54. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.30 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.35%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Analyst Ratings Changes

Several research firms have issued reports on HD. Royal Bank of Canada raised their price target on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Telsey Advisory Group raised their price target on shares of Home Depot from $325.00 to $335.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. The Goldman Sachs Group raised their price target on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Wells Fargo & Company lifted their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, TD Cowen lifted their target price on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $368.76.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.