Deltec Asset Management LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

Deltec Asset Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 24,359 shares of the home improvement retailer’s stock after selling 433 shares during the quarter. Home Depot comprises 2.0% of Deltec Asset Management LLC’s portfolio, making the stock its 13th biggest holding. Deltec Asset Management LLC’s holdings in Home Depot were worth $9,870,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HD. Texas Capital Bank Wealth Management Services Inc grew its position in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the last quarter. Pegasus Asset Management Inc. grew its holdings in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares in the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after acquiring an additional 965 shares during the period. Finally, Swedbank AB lifted its holdings in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $392.60 on Thursday. The Home Depot, Inc. has a 52-week low of $281.61 and a 52-week high of $421.56. The stock has a fifty day moving average of $391.61 and a 200 day moving average of $361.03. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $389.31 billion, a price-to-earnings ratio of 26.33, a P/E/G ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $4.65 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Piper Sandler raised 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. Finally, TD Cowen upped their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

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.