The Home Depot, Inc. (NYSE:HD) Shares Bought by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP significantly increased its holdings in The Home Depot, acquiring an additional 17,011 shares, representing a 1,706.2% increase during the 1st quarter.
• The Home Depot reported $3.56 EPS, missing the consensus estimate by $0.03, but had a revenue of $39.86 billion, exceeding expectations and reflecting a 9.4% year-over-year growth.
• Home Depot recently announced a quarterly dividend of $2.30 per share, resulting in an annualized dividend yield of 2.47% and a payout ratio of 62.42%.

Stevens Capital Management LP boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1,706.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,008 shares of the home improvement retailer's stock after purchasing an additional 17,011 shares during the period. Home Depot comprises 1.6% of Stevens Capital Management LP's portfolio, making the stock its 14th largest holding. Stevens Capital Management LP's holdings in Home Depot were worth $6,600,000 as of its most recent filing with the Securities & Exchange Commission.

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

Home Depot Stock Down 0.2%

Shares of NYSE:HD traded down $0.93 during trading hours on Tuesday, hitting $376.30. The company's stock had a trading volume of 1,270,444 shares, compared to its average volume of 3,539,895. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company has a market capitalization of $374.40 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 3.57 and a beta of 1.00. The firm's fifty day moving average price is $365.55 and its 200 day moving average price is $373.66.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the firm earned $3.63 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

Insider Activity at Home Depot

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

Wall Street Analyst Weigh In

A number of equities 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 note on Tuesday, May 20th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Truist Financial lifted their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Finally, Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

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.