GAMMA Investing LLC Has $37.52 Billion Stake in The Home Depot, Inc. (NYSE:HD)

GAMMA Investing LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 39,194.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,236,903 shares of the home improvement retailer's stock after buying an additional 10,210,851 shares during the period. Home Depot makes up 6.8% of GAMMA Investing LLC's investment portfolio, making the stock its 2nd largest holding. GAMMA Investing LLC owned about 1.03% of Home Depot worth $37,517,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the 4th quarter worth $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP increased its holdings 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 purchasing an additional 66 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Royal Bank of Canada lowered their target price 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. Jefferies Financial Group reduced their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Down 0.2%

Shares of HD traded down $0.84 during trading hours on Monday, reaching $367.45. The company's stock had a trading volume of 1,729,130 shares, compared to its average volume of 3,418,404. The firm has a market cap of $365.58 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.93 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 company has a 50 day moving average of $360.92 and a two-hundred day moving average of $385.73.

Home Depot (NYSE:HD - Get Free Report) last issued 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 business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.63 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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 issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. Home Depot's dividend payout ratio is currently 62.42%.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Company 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.