Trexquant Investment LP Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Trexquant Investment LP purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,150 shares of the home improvement retailer's stock, valued at approximately $6,671,000.

A number of other hedge funds have also bought and sold shares of the company. POM Investment Strategies LLC increased its stake in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after buying an additional 24 shares during the period. Center for Financial Planning Inc. lifted its position in Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after purchasing an additional 24 shares during the period. Insight Inv LLC increased its position in shares of Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer's stock valued at $505,000 after purchasing an additional 25 shares during the period. Marino Stram & Associates LLC increased its position in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after purchasing an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC raised its stake in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock worth $1,912,000 after buying an additional 25 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

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Home Depot Stock Performance

Shares of NYSE:HD traded down $15.61 during midday trading on Monday, hitting $338.29. The company's stock had a trading volume of 3,032,569 shares, compared to its average volume of 3,456,694. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock's 50 day simple moving average is $384.89 and its 200 day simple moving average is $398.35. The stock has a market capitalization of $336.27 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the business posted $2.82 EPS. The company's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.72%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HD. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $435.85.

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.