Delta Investment Management LLC Sells 221 Shares of The Home Depot, Inc. (NYSE:HD)

Delta Investment Management LLC decreased its stake in The Home Depot, Inc. (NYSE:HD) by 18.4% in the 4th quarter, Holdings Channel.com reports. 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 SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Wealth Group Ltd. raised its stake in Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after acquiring an additional 27 shares during the period. Tallon Kerry Patrick acquired a new position in shares of Home Depot in the fourth quarter valued at $281,000. Capital & Planning LLC increased its holdings in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 563 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Home Depot in the fourth quarter valued at about $634,000. Finally, Verity & Verity LLC lifted its stake in shares of Home Depot by 28.4% during the 4th quarter. Verity & Verity LLC now owns 24,667 shares of the home improvement retailer’s stock worth $9,595,000 after buying an additional 5,458 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.5%

Shares of HD opened at $379.03 on Tuesday. 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 Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock 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 stock has a fifty day moving average of $358.40 and a 200-day moving average of $387.85.

Home Depot (NYSE:HD) last issued its 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 during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on HD. Wells Fargo & Company reduced their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. JPMorgan Chase & Co. reduced their price objective on Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $430.32.

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.