Lecap Asset Management Ltd. Grows Position in The Home Depot, Inc. (NYSE:HD)

Lecap Asset Management Ltd. boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 441.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,362 shares of the home improvement retailer's stock after purchasing an additional 7,632 shares during the quarter. Home Depot makes up 0.8% of Lecap Asset Management Ltd.'s portfolio, making the stock its 16th biggest position. Lecap Asset Management Ltd.'s holdings in Home Depot were worth $3,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Services Inc. LA ADV grew its stake in shares of Home Depot by 99,400.7% in 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 acquiring an additional 18,956,701 shares during the last quarter. Norges Bank purchased a new position in Home Depot in the 4th quarter worth approximately $5,032,910,000. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Home Depot in the 4th quarter worth $2,212,546,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Home Depot by 21,394.9% in 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 purchasing an additional 2,030,372 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction dated 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 now owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Trading Up 0.5%

NYSE:HD traded up $1.84 during mid-day trading on Thursday, hitting $363.70. 3,184,311 shares of the stock traded hands, compared to its average volume of 3,421,245. 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 stock has a market capitalization of $361.85 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.43 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. The firm's 50 day moving average is $363.10 and its two-hundred day moving average is $378.66.

Home Depot (NYSE:HD - Get Free Report) last released its 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the business posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business 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. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HD shares. Truist Financial lifted their price objective on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Royal Bank Of Canada cut 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. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

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.