Aigen Investment Management LP Invests $4.09 Million in The Home Depot, Inc. (NYSE:HD)

Key Points

• Aigen Investment Management LP has invested approximately $4.09 million in The Home Depot, acquiring 11,154 shares, which now represent about 0.7% of their portfolio.
• Home Depot's recent financial performance includes a reported $3.56 EPS for the last quarter, slightly below the consensus estimate, along with a revenue of $39.86 billion, exceeding analyst expectations.
• The company declared a $2.30 per share quarterly dividend with an annual yield of 2.4%, highlighting its commitment to returning value to shareholders.

Aigen Investment Management LP bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,154 shares of the home improvement retailer's stock, valued at approximately $4,088,000. Home Depot makes up about 0.7% of Aigen Investment Management LP's holdings, making the stock its 14th largest holding.

Other hedge funds have also modified their holdings of the company. Navigoe LLC acquired a new stake in Home Depot during the 4th quarter valued at $29,000. Abound Financial LLC acquired a new stake in Home Depot during the 1st quarter valued at $31,000. Quarry LP increased its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Monday, June 30th. DA Davidson decreased their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Up 0.4%

NYSE:HD opened at $387.77 on Friday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $385.80 billion, a P/E ratio of 26.31, a P/E/G ratio of 3.69 and a beta of 1.00. The stock's fifty day simple moving average is $367.64 and its 200-day simple moving average is $372.26.

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

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.

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