Polar Asset Management Partners Inc. Invests $20.62 Million in The Home Depot, Inc. (NYSE:HD)

Polar Asset Management Partners Inc. acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,000 shares of the home improvement retailer's stock, valued at approximately $20,616,000.

Other institutional investors also recently modified their holdings of the company. K.J. Harrison & Partners Inc raised its position in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. bought a new position in shares of Home Depot in the fourth quarter valued at approximately $409,000. JPL Wealth Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth $3,193,000. Finally, Umpqua Bank boosted its stake in Home Depot by 26.5% in the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer's stock valued at $2,425,000 after acquiring an additional 1,294 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of HD traded down $2.59 during mid-day trading on Wednesday, hitting $367.81. 2,977,986 shares of the company traded hands, compared to its average volume of 3,430,623. The stock has a market cap of $365.61 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50-day moving average price of $360.38 and a two-hundred day moving average price 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 debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HD shares. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, May 20th. Royal Bank of Canada reduced their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insiders Place Their Bets

In other Home Depot 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 value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.