Yoffe Investment Management LLC Makes New $865,000 Investment in The Home Depot, Inc. (NYSE:HD)

Yoffe Investment Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,224 shares of the home improvement retailer's stock, valued at approximately $865,000. Home Depot makes up 1.2% of Yoffe Investment Management LLC's investment portfolio, making the stock its 17th biggest position.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC increased its position in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank acquired a new position in Home Depot in the 4th quarter valued at about $5,032,910,000. Capital Research Global Investors increased its position in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp increased its position in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and raised their target price for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Trading Down 0.1%

Home Depot stock traded down $0.44 during trading hours on Friday, reaching $367.85. 4,110,311 shares of the company's stock were exchanged, compared to its average volume of 3,433,492. 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 firm's 50 day simple moving average is $360.92 and its 200 day simple moving average is $386.04. The Home Depot, Inc. has a twelve month low of $323.93 and a twelve month high of $439.37. The firm has a market capitalization of $365.65 billion, a PE ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05.

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

Home Depot Dividend Announcement

The business also recently declared 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 is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The shares were 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 directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares of the company's stock, 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 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.