Entropy Technologies LP Purchases Shares of 22,608 The Home Depot, Inc. (NYSE:HD)

Key Points

• Entropy Technologies LP made a new investment in The Home Depot, acquiring 22,608 shares valued at approximately $8.29 million, making it the 14th largest position in their portfolio.
• Home Depot recently announced a quarterly dividend of $2.30, translating to an annualized yield of 2.4%, with a payout ratio of 62.42%.
• The company's latest quarterly earnings reported an EPS of $3.56, which slightly missed consensus estimates, but revenue reached $39.86 billion, exceeding expectations by 1.6%.

Entropy Technologies LP purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,608 shares of the home improvement retailer's stock, valued at approximately $8,286,000. Home Depot accounts for about 0.8% of Entropy Technologies LP's holdings, making the stock its 14th biggest holding.

Other hedge funds have also modified their holdings of the company. Asset Planning Services Inc. LA ADV increased its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares in the last quarter. GAMMA Investing LLC increased its position in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Northern Trust Corp grew its position in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at $471,189,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after buying an additional 891,326 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on HD. Gordon Haskett boosted their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Evercore ISI set a $400.00 target price on Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. Truist Financial reaffirmed a "buy" rating and set a $433.00 target price (up from $417.00) on shares of Home Depot in a report on Wednesday. Finally, Royal Bank Of Canada decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $427.38.

Home Depot Stock Performance

Home Depot stock traded down $6.45 during trading hours on Thursday, hitting $400.73. The company had a trading volume of 3,599,312 shares, compared to its average volume of 3,094,821. The firm has a market cap of $398.70 billion, a PE ratio of 27.19, a PEG ratio of 3.87 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a 50-day moving average of $369.83 and a 200 day moving average of $372.03.

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 company 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%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.63 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's payout ratio is 62.42%.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company's stock, 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 insiders.

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.