Gateway Investment Advisers LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Gateway Investment Advisers LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,810 shares of the home improvement retailer’s stock after purchasing an additional 14,133 shares during the quarter. Home Depot makes up about 1.1% of Gateway Investment Advisers LLC’s holdings, making the stock its 16th biggest holding. Gateway Investment Advisers LLC’s holdings in Home Depot were worth $99,982,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc grew its stake in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Wealth Management Partners LLC grew its position in shares of Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares during the period. Ashton Thomas Private Wealth LLC grew its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the period. Disciplined Investors L.L.C. bought a new position in shares of Home Depot in the 4th quarter worth about $409,000. Finally, JPL Wealth Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $3,193,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent research reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial boosted their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. TD Securities lowered Home Depot to a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Down 0.5%

Home Depot stock opened at $367.45 on Friday. The Home Depot, Inc. has a 52-week low of $323.93 and a 52-week high of $439.37. The company has a market cap of $365.59 billion, a P/E ratio of 24.96, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a 50-day simple moving average of $361.63 and a two-hundred day simple moving average of $384.72.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The business’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 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.