GAMMA Investing LLC Buys Shares of 11,768 The Home Depot, Inc. (NYSE:HD)

GAMMA Investing LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 11,768 shares of the home improvement retailer’s stock, valued at approximately $4,153,000. Home Depot accounts for approximately 1.1% of GAMMA Investing LLC’s holdings, making the stock its 13th biggest position.

A number of other hedge funds also recently made changes to their positions in HD. Keener Financial Planning LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC boosted its position in Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $35,000. Briaud Financial Planning Inc acquired a new position in shares of Home Depot in the 3rd quarter worth approximately $41,000. Finally, Quantbot Technologies LP bought a new stake in shares of Home Depot in the 3rd quarter valued at $64,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush increased their price target on shares of Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Robert W. Baird reissued an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Performance

HD stock traded down $6.98 during trading on Wednesday, hitting $332.02. 1,664,562 shares of the company traded hands, compared to its average volume of 3,329,219. The stock’s 50-day simple moving average is $366.40 and its 200 day simple moving average is $340.51. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The company has a market cap of $329.04 billion, a PE ratio of 22.06, a P/E/G ratio of 2.24 and a beta of 0.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period last year, the business earned $3.30 earnings per share. Home Depot’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.71%. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s 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 owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is 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.