G&S Capital LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

G&S Capital LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,225 shares of the home improvement retailer’s stock, valued at approximately $1,464,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley lifted its position in Home Depot by 10.0% in the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after acquiring an additional 1,698,402 shares in the last quarter. Northern Trust Corp lifted its position in Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. Norges Bank bought a new stake in Home Depot in the 4th quarter valued at $3,740,875,000. Moneta Group Investment Advisors LLC lifted its position in Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after acquiring an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after acquiring an additional 1,361,660 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. HSBC reissued a “reduce” rating and set a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird reissued an “outperform” rating and set a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $376.35.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of the firm’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 completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Home Depot Stock Performance

Shares of NYSE:HD opened at $342.87 on Friday. The company’s 50 day moving average price is $369.91 and its two-hundred day moving average price is $338.08. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The firm has a market cap of $339.79 billion, a PE ratio of 22.71, a PEG ratio of 2.31 and a beta of 0.98. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.62%. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

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.