Traynor Capital Management Inc. boosted its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 15.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,171 shares of the home improvement retailer’s stock after acquiring an additional 4,992 shares during the period. Home Depot accounts for about 1.5% of Traynor Capital Management Inc.’s holdings, making the stock its 13th biggest position. Traynor Capital Management Inc.’s holdings in Home Depot were worth $11,425,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Matisse Capital grew its position in shares of Home Depot by 3.9% during the 1st quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock valued at $797,000 after purchasing an additional 100 shares in the last quarter. Cim LLC increased its holdings in shares of Home Depot by 8.2% in the first quarter. Cim LLC now owns 4,957 shares of the home improvement retailer’s stock worth $1,520,000 after purchasing an additional 375 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Home Depot by 4.4% in the first quarter. CAPROCK Group Inc. now owns 20,066 shares of the home improvement retailer’s stock worth $6,006,000 after purchasing an additional 843 shares during the period. Richard P Slaughter Associates Inc increased its holdings in shares of Home Depot by 36.1% in the first quarter. Richard P Slaughter Associates Inc now owns 766 shares of the home improvement retailer’s stock worth $229,000 after purchasing an additional 203 shares during the period. Finally, NuWave Investment Management LLC bought a new position in shares of Home Depot in the first quarter worth $1,267,000. 70.61% of the stock is currently owned by institutional investors and hedge funds.
Home Depot stock opened at $283.00 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 35.47. The firm has a 50-day moving average of $294.61 and a 200-day moving average of $332.71. The firm has a market cap of $290.85 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.61 and a beta of 0.97. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61.
Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $36.78 billion. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. Home Depot’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 16.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s dividend payout ratio is currently 48.25%.
In related news, Director Becker Caryn Seidman acquired 1,500 shares of the stock in a transaction on Monday, May 23rd. The stock was acquired at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the acquisition, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $431,595. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Marie Campbell sold 11,293 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now owns 51,175 shares of the company’s stock, valued at $14,739,935.25. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.
Several research analysts have recently weighed in on HD shares. Wells Fargo & Company decreased their price target on shares of Home Depot from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Thursday, April 7th. Jefferies Financial Group decreased their price target on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. Evercore ISI reduced their target price on Home Depot to $360.00 in a research note on Thursday, June 9th. Piper Sandler increased their target price on Home Depot from $310.00 to $321.00 and gave the company a “neutral” rating in a research note on Wednesday, May 18th. Finally, Raymond James reduced their target price on Home Depot from $350.00 to $340.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 18th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $369.82.
Home Depot Company Profile (Get Rating)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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