Generate Investment Management Ltd Raises Stake in The Home Depot, Inc. (NYSE:HD)

Generate Investment Management Ltd lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 32.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,139 shares of the home improvement retailer's stock after buying an additional 15,698 shares during the quarter. Home Depot comprises approximately 1.6% of Generate Investment Management Ltd's holdings, making the stock its 16th largest position. Generate Investment Management Ltd's holdings in Home Depot were worth $23,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wealth Group Ltd. raised its position in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after purchasing an additional 27 shares during the period. Sollinda Capital Management LLC raised its position in shares of Home Depot by 2.5% during the fourth quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer's stock worth $434,000 after purchasing an additional 27 shares during the period. Hurlow Wealth Management Group Inc. raised its position in shares of Home Depot by 1.3% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock worth $831,000 after purchasing an additional 27 shares during the period. Invst LLC raised its position in shares of Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after purchasing an additional 28 shares during the period. Finally, Fi3 FINANCIAL ADVISORS LLC raised its position in shares of Home Depot by 2.0% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 1,484 shares of the home improvement retailer's stock worth $577,000 after purchasing an additional 29 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HD shares. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Truist Financial upped their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Stock Performance

Shares of HD stock traded up $4.86 on Friday, hitting $368.36. 5,502,278 shares of the stock were exchanged, compared to its average volume of 3,431,611. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $366.49 billion, a PE ratio of 24.99, a P/E/G ratio of 3.46 and a beta of 1.02. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm's 50 day moving average is $363.55 and its two-hundred day moving average is $377.83.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.63 EPS. Sell-side 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. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. 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 Transactions at Home Depot

In related news, 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 transaction of $954,564.00. Following the sale, the executive vice president now owns 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 SEC, which is accessible through this hyperlink. Also, 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 value of $1,996,327.68. Following 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 owned by corporate insiders.

Home Depot Company 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.