The Home Depot, Inc. (NYSE:HD) Shares Sold by VELA Investment Management LLC

VELA Investment Management LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.1% during the 4th quarter, Holdings Channel reports. The fund owned 4,134 shares of the home improvement retailer’s stock after selling 623 shares during the quarter. VELA Investment Management LLC’s holdings in Home Depot were worth $1,433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairfield Bush & CO. purchased a new position in Home Depot during the first quarter worth approximately $27,000. KB Financial Partners LLC purchased a new position in Home Depot during the first quarter worth approximately $28,000. Keener Financial Planning LLC purchased a new position in Home Depot during the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC boosted its position in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new position in Home Depot during the fourth quarter worth approximately $32,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.9 %

Home Depot stock opened at $334.83 on Wednesday. The company has a market capitalization of $331.82 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. 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 50 day moving average price of $369.14 and a 200 day moving average price of $339.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Truist Financial increased their price target on Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Telsey Advisory Group raised their target price on Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. Bank of America raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. TD Cowen raised their target price on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Wedbush raised their target price on Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

About Home Depot

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.