Picton Mahoney Asset Management Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Picton Mahoney Asset Management acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,900 shares of the home improvement retailer’s stock, valued at approximately $4,472,000.

Several other institutional investors also recently modified their holdings of the business. Congress Wealth Management LLC DE grew its position in Home Depot by 3.7% during the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after buying an additional 3,162 shares during the period. Hartline Investment Corp lifted its position in shares of Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after buying an additional 460 shares in the last quarter. Wolf Group Capital Advisors grew its stake in shares of Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group purchased a new stake in Home Depot in the 4th quarter worth approximately $253,000. Finally, Psagot Value Holdings Ltd. Israel raised its stake in Home Depot by 8.0% during the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after acquiring an additional 200 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price 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. Bank of America upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Guggenheim reaffirmed a “buy” rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. HSBC reissued a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a research note on Wednesday, April 3rd. Finally, Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.19.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value 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 approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

NYSE HD traded down $1.99 on Wednesday, reaching $338.70. 3,122,850 shares of the company’s stock traded hands, compared to its average volume of 3,338,355. The stock has a 50 day moving average price of $360.47 and a 200-day moving average price of $343.54. The firm has a market cap of $335.66 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.28 and a beta of 1.01. 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.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal 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 issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.66%. Home Depot’s dividend payout ratio is 59.60%.

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.