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

Deltec Asset Management LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,792 shares of the home improvement retailer’s stock after selling 83 shares during the period. Home Depot makes up approximately 1.6% of Deltec Asset Management LLC’s holdings, making the stock its 17th biggest holding. Deltec Asset Management LLC’s holdings in Home Depot were worth $8,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Home Depot in the 4th quarter worth $4,311,070,000. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot in the first quarter worth about $513,016,000. Jennison Associates LLC lifted its holdings in shares of Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. Capital Research Global Investors boosted its position in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after buying an additional 992,444 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HD shares. Stifel Nicolaus dropped their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday. Truist Financial lowered their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $384.00.

Home Depot Price Performance

Shares of HD traded up $5.59 during mid-day trading on Wednesday, hitting $355.66. 4,618,225 shares of the company were exchanged, compared to its average volume of 3,432,755. The stock has a market cap of $352.68 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a 50 day moving average of $348.96 and a 200-day moving average of $353.14. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business posted $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Activity

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

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.