Neo Ivy Capital Management Acquires New Shares in The Home Depot, Inc. (NYSE:HD)

Neo Ivy Capital Management acquired a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,632 shares of the home improvement retailer's stock, valued at approximately $4,135,000. Home Depot accounts for about 0.8% of Neo Ivy Capital Management's investment portfolio, making the stock its 20th biggest holding.

A number of other institutional investors have also recently made changes to their positions in HD. Vega Investment Solutions acquired a new position in Home Depot during the 4th quarter worth $46,000. Strait & Sound Wealth Management LLC grew its position in shares of Home Depot by 4.6% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 7,794 shares of the home improvement retailer's stock worth $3,032,000 after buying an additional 345 shares in the last quarter. Helium Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $759,000. Breakthru Advisory Services LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $529,000. Finally, Sunbelt Securities Inc. lifted its stake in Home Depot by 2.8% in the fourth quarter. Sunbelt Securities Inc. now owns 6,329 shares of the home improvement retailer's stock worth $2,465,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of NYSE HD traded down $1.23 during mid-day trading on Wednesday, hitting $369.17. 946,169 shares of the company were exchanged, compared to its average volume of 3,424,134. The stock has a 50 day simple moving average of $360.38 and a 200-day simple moving average of $386.69. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. 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 firm has a market cap of $366.96 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 firm 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 firm's quarterly 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. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 given a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. Home Depot's payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HD shares. DA Davidson dropped their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective 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 report on Monday, March 3rd. Robert W. Baird cut their price target 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. Finally, 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. Seven 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.