GAMMA Investing LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

GAMMA Investing LLC increased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,932 shares of the home improvement retailer's stock after purchasing an additional 1,880 shares during the period. Home Depot accounts for 0.8% of GAMMA Investing LLC's portfolio, making the stock its 16th biggest position. GAMMA Investing LLC's holdings in Home Depot were worth $10,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC grew its stake in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the period. Norges Bank purchased a new stake in Home Depot in the fourth quarter worth $5,032,910,000. Capital Research Global Investors grew its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its holdings in 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 worth $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD traded up $4.86 during midday trading on Friday, reaching $368.36. The company had a trading volume of 5,502,278 shares, compared to its average volume of 3,419,944. 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 business has a 50-day moving average of $363.55 and a two-hundred day moving average of $377.53. The company 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 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS 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 analysts' expectations 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 quarter in the previous year, the company earned $3.63 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 sale, the executive vice president now owns 7,951 shares of the company's stock, valued at $2,919,130.14. This represents 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 Analyst Weigh In

A number of research firms have recently commented on HD. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Mizuho lowered their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.