Gateway Investment Advisers LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Gateway Investment Advisers LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 329,735 shares of the home improvement retailer’s stock after selling 4,300 shares during the quarter. Home Depot makes up approximately 1.0% of Gateway Investment Advisers LLC’s portfolio, making the stock its 16th biggest position. Gateway Investment Advisers LLC’s holdings in Home Depot were worth $98,700,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Gilman Hill Asset Management LLC lifted its stake in Home Depot by 8.0% during the first quarter. Gilman Hill Asset Management LLC now owns 4,240 shares of the home improvement retailer’s stock worth $1,269,000 after purchasing an additional 314 shares during the last quarter. Kesler Norman & Wride LLC lifted its stake in Home Depot by 3.5% during the first quarter. Kesler Norman & Wride LLC now owns 13,364 shares of the home improvement retailer’s stock worth $4,000,000 after purchasing an additional 457 shares during the last quarter. Glassman Wealth Services lifted its stake in Home Depot by 5.6% during the first quarter. Glassman Wealth Services now owns 6,471 shares of the home improvement retailer’s stock worth $1,937,000 after purchasing an additional 342 shares during the last quarter. Walker Asset Management LLC purchased a new stake in Home Depot during the first quarter worth approximately $848,000. Finally, Payden & Rygel lifted its stake in Home Depot by 17.5% in the first quarter. Payden & Rygel now owns 69,870 shares of the home improvement retailer’s stock valued at $20,914,000 after buying an additional 10,400 shares during the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.

Shares of HD stock opened at $283.00 on Friday. The business’s fifty day moving average price is $294.61 and its 200 day moving average price is $332.16. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61. The firm has a market capitalization of $290.86 billion, a PE ratio of 17.97, a P/E/G ratio of 1.65 and a beta of 0.97. The company has a debt-to-equity ratio of 35.47, a current ratio of 1.11 and a quick ratio of 0.28.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data 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 firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $36.78 billion. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. Home Depot’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.86 earnings per share. Equities research analysts expect 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. Shareholders of record on Thursday, June 2nd were given 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 yield of 2.69%. Home Depot’s payout ratio is 48.25%.

In other Home Depot news, EVP Ann Marie Campbell sold 11,293 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 51,175 shares in the company, valued at $14,739,935.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Hector A. Padilla sold 136 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $289.23, for a total value of $39,335.28. Following the sale, the executive vice president now owns 11,230 shares in the company, valued at $3,248,052.90. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

A number of brokerages have weighed in on HD. Jefferies Financial Group reduced their price objective on Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 18th. OTR Global cut Home Depot to a “positive” rating in a research note on Tuesday, May 10th. Truist Financial reduced their price objective on Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Finally, Guggenheim reduced their price objective on Home Depot from $400.00 to $350.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDGet Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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Melissa M. Taylor

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