3Chopt Investment Partners LLC Purchases Shares of 3,591 The Home Depot, Inc. (NYSE:HD)

3Chopt Investment Partners LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,591 shares of the home improvement retailer's stock, valued at approximately $1,316,000.

A number of other hedge funds also recently made changes to their positions in the company. Wealth Management Partners LLC increased its stake in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after purchasing an additional 36 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after purchasing an additional 3,873 shares during the period. Disciplined Investors L.L.C. acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $409,000. ARS Wealth Advisors Group LLC raised its position in shares of Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares during the period. Finally, JPL Wealth Management LLC bought a new position in Home Depot during the 4th quarter worth $3,193,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Up 1.3%

NYSE:HD traded up $4.86 during trading hours on Friday, hitting $368.36. 5,502,278 shares of the company's stock traded hands, compared to its average volume of 3,419,944. The firm has a market cap of $366.49 billion, a P/E ratio of 24.99, a P/E/G ratio of 3.51 and a beta of 1.02. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock's fifty day moving average price is $363.55 and its two-hundred day moving average price is $377.53.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.63 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's payout ratio is 62.42%.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HD. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.