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

by · The Markets Daily

DLK Investment Management LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,926 shares of the home improvement retailer’s stock after purchasing an additional 124 shares during the quarter. Home Depot makes up approximately 2.3% of DLK Investment Management LLC’s holdings, making the stock its 19th largest holding. DLK Investment Management LLC’s holdings in Home Depot were worth $6,048,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wulff Hansen & CO. boosted its position in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in Home Depot in the first quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD raised its holdings in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Swedbank AB bought a new stake in Home Depot during the first quarter worth approximately $301,364,000. Finally, Jennison Associates LLC raised its holdings in Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $360.00 to $460.00 in a research note on Wednesday. Finally, Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $402.38.

View Our Latest Research Report on HD

Home Depot Price Performance

Shares of Home Depot stock traded up $2.37 during midday trading on Friday, hitting $412.33. 737,965 shares of the company traded hands, compared to its average volume of 3,379,430. The firm’s fifty day moving average price is $377.21 and its 200-day moving average price is $357.09. The stock has a market cap of $409.56 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $420.03. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.18%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Home Depot Profile

(Free Report)

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.

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