VELA Investment Management LLC Has $1.29 Million Holdings in The Home Depot, Inc. (NYSE:HD)

VELA Investment Management LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,516 shares of the home improvement retailer’s stock after purchasing an additional 431 shares during the quarter. VELA Investment Management LLC’s holdings in Home Depot were worth $1,289,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Norges Bank acquired a new position in Home Depot during the fourth quarter worth $5,032,910,000. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Northern Trust Corp lifted its position in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Home Depot in the fourth quarter valued at about $471,189,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $371.36 on Friday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a market cap of $369.47 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.53 and a beta of 1.00. The business’s fifty day simple moving average is $365.14 and its two-hundred day simple moving average is $376.33. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the company posted $3.63 earnings per share. Home Depot’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on HD. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada lowered their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Truist Financial increased their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Company 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.