Breakwater Capital Group Increases Stake in The Home Depot, Inc. (NYSE:HD)

Breakwater Capital Group raised its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,297 shares of the home improvement retailer's stock after acquiring an additional 935 shares during the quarter. Breakwater Capital Group's holdings in Home Depot were worth $1,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Home Depot in the 4th quarter valued at approximately $5,032,910,000. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% in 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 buying an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. bought a new position in Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Home Depot by 13.3% in 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 buying an additional 1,424,857 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Royal Bank of Canada dropped their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. TD Securities lowered shares of Home Depot to a "buy" rating in a report on Monday. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction 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 now directly owns 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 at this hyperlink. Also, 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 value of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Stock Down 0.9%

NYSE HD traded down $3.43 during mid-day trading on Thursday, hitting $368.97. The company's stock had a trading volume of 2,320,479 shares, compared to its average volume of 3,412,010. The company's 50 day simple moving average is $361.54 and its 200 day simple moving average is $385.28. The Home Depot, Inc. has a twelve month low of $323.93 and a twelve month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $367.10 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last posted 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the business posted $3.63 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.