VELA Investment Management LLC Has $1.25 Million Holdings in The Home Depot, Inc. (NYSE:HD)

VELA Investment Management LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 7.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,085 shares of the home improvement retailer’s stock after selling 248 shares during the period. VELA Investment Management LLC’s holdings in Home Depot were worth $1,250,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HD. WFA Asset Management Corp boosted its stake in Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after purchasing an additional 135 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Home Depot by 5.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after acquiring an additional 623 shares during the period. Retirement Group LLC grew its stake in shares of Home Depot by 59.6% in the first quarter. Retirement Group LLC now owns 265 shares of the home improvement retailer’s stock worth $102,000 after acquiring an additional 99 shares during the last quarter. Braun Stacey Associates Inc. increased its position in Home Depot by 6.4% during the first quarter. Braun Stacey Associates Inc. now owns 42,601 shares of the home improvement retailer’s stock worth $16,342,000 after acquiring an additional 2,579 shares during the period. Finally, Avior Wealth Management LLC raised its stake in Home Depot by 16.6% during the 1st quarter. Avior Wealth Management LLC now owns 19,607 shares of the home improvement retailer’s stock valued at $7,522,000 after purchasing an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $392.59 on Friday. The stock has a market capitalization of $389.96 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1-year low of $286.79 and a 1-year high of $421.56. The business has a 50-day moving average price of $392.51 and a two-hundred day moving average price of $361.82.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the business posted $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. Equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HD. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Truist Financial upped their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $413.48.

Home Depot 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.