MQS Management LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

MQS Management LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,537 shares of the home improvement retailer's stock, valued at approximately $930,000. Home Depot comprises 0.5% of MQS Management LLC's holdings, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV lifted its holdings in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at about $5,032,910,000. GAMMA Investing LLC lifted its holdings 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 valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Northern Trust Corp lifted its holdings 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 valued at $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Home Depot during the 4th quarter valued at about $471,189,000. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

HD has been the topic of several recent analyst reports. Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. TD Securities cut Home Depot to a "buy" rating in a report on Monday, June 2nd. DA Davidson cut their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. Finally, Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Seven investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

Shares of HD stock traded down $3.15 during trading on Friday, reaching $370.15. 3,068,031 shares of the company's stock were exchanged, compared to its average volume of 3,433,785. 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 $368.27 billion, a PE ratio of 25.11, a PEG ratio of 3.52 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm's fifty day moving average price is $366.14 and its 200-day moving average price is $375.43.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS 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 paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.49%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was 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 directly owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's 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 completion of the sale, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

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.