Wedge Capital Management L L P NC Decreases Holdings in Home Depot Inc (HD)

Wedge Capital Management L L P NC reduced its position in shares of Home Depot Inc (NYSE:HD) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,229 shares of the home improvement retailer’s stock after selling 4,467 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Home Depot were worth $34,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobi Capital Management LLC lifted its position in shares of Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after acquiring an additional 101 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after acquiring an additional 340 shares during the last quarter. Glassman Wealth Services lifted its position in shares of Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after acquiring an additional 300 shares during the last quarter. St. Johns Investment Management Company LLC lifted its position in shares of Home Depot by 81.8% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after acquiring an additional 495 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of Home Depot by 0.6% in the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after purchasing an additional 7 shares in the last quarter. 70.14% of the stock is owned by hedge funds and other institutional investors.

Shares of Home Depot Inc (NYSE HD) opened at $191.80 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. Home Depot Inc has a 1-year low of $133.94 and a 1-year high of $193.72. The stock has a market capitalization of $223,970.00, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.96 and a beta of 1.11.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. During the same period last year, the company earned $1.60 earnings per share. Home Depot’s quarterly revenue was up 8.1% compared to the same quarter last year. analysts predict that Home Depot Inc will post 7.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 annualized dividend and a dividend yield of 1.86%. Home Depot’s dividend payout ratio is 49.38%.

Home Depot declared that its board has approved a stock buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts have recently issued reports on the company. Piper Jaffray Companies restated a “hold” rating and issued a $164.00 target price on shares of Home Depot in a report on Sunday, October 1st. Oppenheimer restated a “buy” rating on shares of Home Depot in a report on Tuesday, December 26th. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Robert W. Baird restated an “outperform” rating and issued a $195.00 target price on shares of Home Depot in a report on Thursday, November 30th. Finally, SunTrust Banks increased their target price on Home Depot to $167.00 and gave the company a “hold” rating in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $183.28.

In related news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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Home Depot Profile

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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