The Home Depot, Inc. (NYSE:HD) Stake Raised by Traynor Capital Management Inc.

Traynor Capital Management Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,702 shares of the home improvement retailer’s stock after acquiring an additional 1,279 shares during the period. Home Depot comprises 1.5% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 10th biggest position. Traynor Capital Management Inc.’s holdings in Home Depot were worth $14,452,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HD. Harvest Investment Advisors LLC lifted its position in Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after acquiring an additional 30 shares during the period. Armstrong Henry H Associates Inc. lifted its position in Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after acquiring an additional 30 shares during the period. CGC Financial Services LLC lifted its position in Home Depot by 4.3% during the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after acquiring an additional 30 shares during the period. Independent Investors Inc. lifted its position in Home Depot by 0.5% during the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after acquiring an additional 30 shares during the period. Finally, CCG Wealth Management LLC lifted its holdings in shares of Home Depot by 1.7% in the 3rd quarter. CCG Wealth Management LLC now owns 1,977 shares of the home improvement retailer’s stock valued at $597,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

NYSE:HD traded down $2.29 during trading hours on Friday, hitting $383.60. 4,108,328 shares of the stock traded hands, compared to its average volume of 3,355,391. The firm has a 50 day moving average price of $368.47 and a 200 day moving average price of $334.54. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market cap of $380.16 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.55 and a beta of 0.99.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the previous year, the business earned $3.30 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.35%. Home Depot’s dividend payout ratio is 59.60%.

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. Mizuho started coverage on Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. TD Cowen raised their price target on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Oppenheimer downgraded Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Guggenheim lifted their price objective on Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $368.76.

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.