GAMMA Investing LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

GAMMA Investing LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,768 shares of the home improvement retailer’s stock, valued at approximately $4,153,000. Home Depot comprises about 1.1% of GAMMA Investing LLC’s investment portfolio, making the stock its 13th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Home Depot by 1.3% in the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Home Depot by 11.3% in the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after acquiring an additional 346,641 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Home Depot by 0.7% during the third quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock worth $750,448,000 after buying an additional 17,224 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. Truist Financial restated a “buy” rating and set a $417.00 target price on shares of Home Depot in a report on Wednesday, April 17th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. TD Cowen increased their target price on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Wells Fargo & Company increased their target price on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD traded down $6.98 during midday trading on Wednesday, reaching $332.02. The stock had a trading volume of 1,664,562 shares, compared to its average volume of 3,329,219. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm’s fifty day simple moving average is $366.40 and its 200-day simple moving average is $340.51. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The stock has a market capitalization of $329.04 billion, a P/E ratio of 22.06, a PEG ratio of 2.24 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the business posted $3.30 EPS. Home Depot’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.71%. 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%.

About Home Depot

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.