Wedge Capital Management L L P NC lowered its holdings in Home Depot Inc (NYSE:HD) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,229 shares of the home improvement retailer’s stock after selling 4,467 shares during the period. Wedge Capital Management L L P NC’s holdings in Home Depot were worth $34,876,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC increased its position in Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in 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 worth $145,000 after purchasing an additional 340 shares in the last quarter. Glassman Wealth Services increased its position in Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after purchasing an additional 300 shares in the last quarter. St. Johns Investment Management Company LLC increased its position in 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 worth $169,000 after purchasing an additional 495 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its position in Home Depot by 0.6% during the 2nd 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. 70.21% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The shares were 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 directly 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 SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.
A number of equities analysts recently issued reports on the stock. Deutsche Bank upped their price objective on shares of Home Depot from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Argus upped their price objective on shares of Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $220.00 price objective (up from $190.00) on shares of Home Depot in a research report on Friday, January 19th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Atlantic Securities upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price target for the company from $174.16 to $174.95 in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $187.76.
Home Depot Inc (HD) traded down $5.93 during trading hours on Friday, hitting $193.97. 6,177,634 shares of the stock were exchanged, compared to its average volume of 4,380,000. The company has a market cap of $226,510.00, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.87 and a beta of 1.08. Home Depot Inc has a 12 month low of $136.33 and a 12 month high of $207.60. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23.
Home Depot (NYSE:HD) last issued its earnings results 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. The business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. Home Depot’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. equities analysts expect that Home Depot Inc will post 7.37 EPS for the current year.
Home Depot declared that its board has authorized a share repurchase plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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.
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