Hennessy Advisors Inc. Makes New $5.13 Million Investment in The Home Depot, Inc. (NYSE:HD)

Hennessy Advisors Inc. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,000 shares of the home improvement retailer's stock, valued at approximately $5,131,000.

Several other large investors also recently bought and sold shares of HD. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC boosted its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC boosted its position in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Home Depot by 13.3% during the 4th 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. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Piper Sandler lowered their price objective 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. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and upped their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Seven research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Down 2.5%

HD opened at $354.10 on Friday. The business has a 50 day moving average price of $362.73 and a two-hundred day moving average price of $382.50. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $352.31 billion, a PE ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

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 (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.63 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on 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 in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 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 position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company 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.

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