Picton Mahoney Asset Management Has $19.49 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Picton Mahoney Asset Management increased its stake in Home Depot by 64.3%, resulting in a total holding of $19.49 million with 53,186 shares.
• Home Depot reported a quarterly revenue of $39.86 billion, surpassing analysts' expectations, but its EPS of $3.56 was slightly below the consensus estimate of $3.59.
• The company announced a quarterly dividend of $2.30, yielding 2.44%, and has a current payout ratio of 62.42%.

Picton Mahoney Asset Management increased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 64.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,186 shares of the home improvement retailer's stock after purchasing an additional 20,805 shares during the period. Picton Mahoney Asset Management's holdings in Home Depot were worth $19,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HD. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC acquired a new position in shares of Home Depot in the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC increased its position in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares in the last quarter. Quarry LP increased its position in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after buying an additional 30 shares during the period. Institutional investors own 70.86% of the company's stock.

Home Depot Trading Up 0.5%

HD stock opened at $377.26 on Tuesday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The stock has a market cap of $375.35 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The company has a fifty day moving average price of $365.55 and a two-hundred day moving average price of $373.66. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS 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 company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the firm posted $3.63 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Mizuho lowered their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Gordon Haskett boosted their price objective on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was 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 owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.