GAMMA Investing LLC Acquires 4,229 Shares of The Home Depot, Inc. (NYSE:HD)

GAMMA Investing LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,052 shares of the home improvement retailer’s stock after buying an additional 4,229 shares during the period. Home Depot accounts for 0.9% of GAMMA Investing LLC’s portfolio, making the stock its 16th largest position. GAMMA Investing LLC’s holdings in Home Depot were worth $10,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in HD. Versant Capital Management Inc lifted its position in shares of Home Depot by 7.5% during the 4th quarter. Versant Capital Management Inc now owns 6,547 shares of the home improvement retailer’s stock valued at $2,547,000 after buying an additional 457 shares in the last quarter. SK Wealth Management LLC purchased a new position in shares of Home Depot during the third quarter valued at about $235,000. Independent Solutions Wealth Management LLC grew its holdings in Home Depot by 8.8% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 8,652 shares of the home improvement retailer’s stock valued at $3,506,000 after buying an additional 701 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Home Depot by 0.6% in the third quarter. Lord Abbett & CO. LLC now owns 125,350 shares of the home improvement retailer’s stock valued at $50,792,000 after purchasing an additional 776 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. increased its holdings in shares of Home Depot by 30.5% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 788 shares of the home improvement retailer’s stock worth $319,000 after buying an additional 184 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays upped their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, DA Davidson upped their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of HD stock opened at $388.46 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $385.88 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.90 and a beta of 1.03. The company’s 50-day simple moving average is $407.42 and its 200-day simple moving average is $383.85.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $3.81 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.32%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last ninety days. 0.10% of the stock is currently owned by corporate 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.