The Home Depot, Inc. (NYSE:HD) is GAMMA Investing LLC’s 2nd Largest Position

GAMMA Investing LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 39,194.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,236,903 shares of the home improvement retailer’s stock after buying an additional 10,210,851 shares during the quarter. Home Depot comprises 6.8% of GAMMA Investing LLC’s investment portfolio, making the stock its 2nd biggest holding. GAMMA Investing LLC’s holdings in Home Depot were worth $37,517,230,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP increased its position in 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 acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Jefferies Financial Group decreased their price target on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Robert W. Baird dropped their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, TD Securities reiterated a “buy” rating and set a $470.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Up 0.0%

NYSE:HD opened at $368.08 on Friday. The Home Depot, Inc. has a 52-week low of $323.93 and a 52-week 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 stock has a fifty day simple moving average of $360.78 and a 200-day simple moving average of $386.29. The company has a market capitalization of $365.88 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s 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 owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $954,564.00. Following the completion of 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 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.