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

Delta Investment Management LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 18.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 983 shares of the home improvement retailer’s stock after selling 221 shares during the quarter. Delta Investment Management LLC’s holdings in Home Depot were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in HD. POM Investment Strategies LLC lifted its holdings in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of 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 in the last quarter. Marino Stram & Associates LLC grew its holdings 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 acquiring an additional 25 shares in the last quarter. Live Oak Private Wealth LLC increased its stake in shares of Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC raised its stake in shares of Home Depot by 4.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HD. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Morgan Stanley dropped their price objective on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $430.32.

Home Depot Stock Down 0.5%

Home Depot stock opened at $379.03 on Tuesday. The firm has a market capitalization of $376.77 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 4.03 and a beta of 1.05. The company’s 50 day simple moving average is $358.40 and its 200 day simple moving average is $387.85. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. 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) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.