Hexagon Capital Partners LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Hexagon Capital Partners LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,559 shares of the home improvement retailer’s stock after buying an additional 282 shares during the period. Hexagon Capital Partners LLC’s holdings in Home Depot were worth $887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings 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 purchasing an additional 153,141 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Home Depot by 11.3% during the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after acquiring an additional 346,641 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Home Depot by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock valued at $750,448,000 after acquiring an additional 17,224 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated 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 directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on 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 in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HD shares. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Citigroup increased their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Evercore ISI dropped their target price on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Telsey Advisory Group increased their target price on shares of Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Finally, Mizuho started coverage on shares of Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Stock Performance

HD traded down $2.57 during trading hours on Tuesday, hitting $334.23. 3,088,022 shares of the stock were exchanged, compared to its average volume of 3,341,935. The stock has a 50-day simple moving average of $363.69 and a 200-day simple moving average of $341.88. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a market cap of $331.23 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the company earned $3.30 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced 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. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s payout ratio is presently 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.