Sompo Asset Management Co. Ltd. Sells 740 Shares of The Home Depot, Inc. (NYSE:HD)

Sompo Asset Management Co. Ltd. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,577 shares of the home improvement retailer’s stock after selling 740 shares during the quarter. Home Depot comprises about 1.1% of Sompo Asset Management Co. Ltd.’s investment portfolio, making the stock its 20th biggest holding. Sompo Asset Management Co. Ltd.’s holdings in Home Depot were worth $6,448,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Marshall Investment Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $41,000. Finally, Sellwood Investment Partners LLC bought a new position in Home Depot in the 4th quarter valued at approximately $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.1 %

Shares of Home Depot stock opened at $354.28 on Wednesday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm’s 50 day moving average price is $366.92 and its 200-day moving average price is $393.38. 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 company has a market cap of $352.17 billion, a P/E ratio of 24.07, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the firm posted $2.82 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 paid a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HD. Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $434.08.

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.