Gluskin Sheff & Assoc Inc. Sells 19,898 Shares of Home Depot Inc (HD)

Gluskin Sheff & Assoc Inc. cut its position in shares of Home Depot Inc (NYSE:HD) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,734 shares of the home improvement retailer’s stock after selling 19,898 shares during the period. Home Depot comprises about 4.1% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 7th largest position. Gluskin Sheff & Assoc Inc.’s holdings in Home Depot were worth $39,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Jacobi Capital Management LLC grew its position in Home Depot by 16.4% in the second 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 period. Patriot Financial Group Insurance Agency LLC grew its position in Home Depot by 63.4% in the third 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 period. Glassman Wealth Services grew its position in Home Depot by 38.3% in the second 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 period. St. Johns Investment Management Company LLC grew its position in Home Depot by 81.8% in the second 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 period. Finally, Mascoma Wealth Management LLC grew its position in 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 acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 70.14% of the company’s stock.

Shares of Home Depot Inc (HD) opened at $196.42 on Friday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The company has a market capitalization of $229,370.00, a price-to-earnings ratio of 27.24, a PEG ratio of 1.81 and a beta of 1.11. Home Depot Inc has a 1-year low of $133.94 and a 1-year high of $199.42.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $24.53 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts expect that Home Depot Inc will post 7.37 EPS for the current fiscal year.

Home Depot declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

In other news, EVP Matt Carey sold 41,396 shares of the company’s 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 transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

A number of analysts have weighed in on HD shares. Robert W. Baird set a $185.00 price target on Home Depot and gave the company a “buy” rating in a research report on Tuesday, November 14th. They noted that the move was a valuation call. Oppenheimer set a $178.00 price target on Home Depot and gave the company a “buy” rating in a research report on Tuesday, November 14th. Bank of America upped their price target on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Royal Bank of Canada set a $179.00 price target on Home Depot and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Credit Suisse Group set a $171.00 price target on Home Depot and gave the company a “buy” rating in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $183.28.

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About Home Depot

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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