Investment Partners LTD. reduced its position in The Home Depot, Inc. (NYSE:HD) by 33.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,887 shares of the home improvement retailer’s stock after selling 2,490 shares during the quarter. Investment Partners LTD.’s holdings in The Home Depot were worth $1,357,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Price Wealth LLC lifted its position in The Home Depot by 138.5% in the second quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 72 shares during the period. Planned Solutions Inc. bought a new position in The Home Depot in the third quarter worth $45,000. JJJ Advisors Inc. lifted its holdings in shares of The Home Depot by 201.6% during the third quarter. JJJ Advisors Inc. now owns 184 shares of the home improvement retailer’s stock valued at $51,000 after acquiring an additional 123 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in shares of The Home Depot by 138.8% during the second quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 111 shares during the period. Finally, First Bank & Trust lifted its holdings in shares of The Home Depot by 34.0% during the third quarter. First Bank & Trust now owns 197 shares of the home improvement retailer’s stock valued at $55,000 after acquiring an additional 50 shares during the period. 69.00% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on HD. Barclays lifted their price objective on The Home Depot from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Bank of America lifted their price objective on The Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Credit Suisse Group reissued a “buy” rating and set a $300.00 price objective on shares of The Home Depot in a report on Monday, August 17th. BNP Paribas began coverage on The Home Depot in a report on Monday, October 5th. They set an “outperform” rating and a $310.00 price objective for the company. Finally, Argus lifted their price objective on The Home Depot from $300.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Six research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $288.88.
In other news, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the completion of the transaction, the executive vice president now directly owns 62,735 shares in the company, valued at approximately $17,341,836.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP William G. Lennie sold 13,199 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $283.22, for a total value of $3,738,220.78. Following the transaction, the executive vice president now owns 49,736 shares of the company’s stock, valued at $14,086,229.92. The disclosure for this sale can be found here. Insiders have sold a total of 105,624 shares of company stock valued at $29,429,883 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.
Shares of HD stock opened at $274.68 on Tuesday. The stock has a 50-day moving average price of $279.64 and a 200 day moving average price of $263.61. The firm has a market cap of $300.94 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 2.18 and a beta of 1.11. The Home Depot, Inc. has a 12 month low of $140.63 and a 12 month high of $292.95.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, topping the Zacks’ consensus estimate of $3.20 by $0.82. The firm had revenue of $38.05 billion during the quarter, compared to analyst estimates of $32.13 billion. The Home Depot had a negative return on equity of 583.91% and a net margin of 9.91%. The company’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the company earned $3.17 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 11.43 EPS for the current year.
The Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
Further Reading: Gap Down Stocks
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