Home Depot Inc (HD) Position Reduced by Smith Asset Management Group LP

Smith Asset Management Group LP trimmed its stake in shares of Home Depot Inc (NYSE:HD) by 16.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548,437 shares of the home improvement retailer’s stock after selling 107,247 shares during the period. Home Depot comprises 3.0% of Smith Asset Management Group LP’s holdings, making the stock its 3rd largest position. Smith Asset Management Group LP’s holdings in Home Depot were worth $89,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HD. Mascoma Wealth Management LLC boosted its position in Home Depot by 0.6% during the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $175,000 after purchasing an additional 7 shares in the last quarter. Paragon Wealth Strategies LLC boosted its position in Home Depot by 0.4% during the second quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock worth $280,000 after purchasing an additional 7 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in Home Depot by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,651 shares of the home improvement retailer’s stock worth $253,000 after purchasing an additional 7 shares in the last quarter. Silicon Valley Capital Partners boosted its position in Home Depot by 0.6% during the second quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock worth $228,000 after purchasing an additional 9 shares in the last quarter. Finally, Mcdaniel Terry & Co. boosted its position in Home Depot by 0.5% during the second quarter. Mcdaniel Terry & Co. now owns 1,678 shares of the home improvement retailer’s stock worth $257,000 after purchasing an additional 9 shares in the last quarter. 70.18% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction that occurred 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 in the company, valued at $5,410,183.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

HD has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $179.00 price target on Home Depot and gave the stock a “buy” rating in a research report on Monday, October 30th. Citigroup increased their price target on Home Depot from $179.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. Credit Suisse Group set a $171.00 price target on Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Bank of America increased their price target on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Finally, KeyCorp initiated coverage on Home Depot in a research report on Tuesday, November 7th. They set a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $183.28.

Home Depot Inc (NYSE HD) opened at $199.82 on Thursday. The firm has a market capitalization of $233,340.00, a P/E ratio of 27.71, a PEG ratio of 1.82 and a beta of 1.11. Home Depot Inc has a 1 year low of $134.60 and a 1 year high of $199.82. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.03. The business had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. sell-side analysts expect that Home Depot Inc will post 7.39 EPS for the current year.

Home Depot declared that its Board of Directors has approved a share buyback program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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Home Depot Company 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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