Gamco Investors INC. ET AL cut its stake in Home Depot Inc (NYSE:HD) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,249 shares of the home improvement retailer’s stock after selling 8,020 shares during the period. Gamco Investors INC. ET AL’s holdings in Home Depot were worth $52,871,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atlantic Trust LLC grew its position in Home Depot by 12.8% during the 2nd quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock worth $3,119,000 after acquiring an additional 2,309 shares during the last quarter. APG Asset Management N.V. grew its position in Home Depot by 6.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,242,180 shares of the home improvement retailer’s stock worth $366,731,000 after acquiring an additional 133,300 shares during the last quarter. IFP Advisors Inc grew its position in Home Depot by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock worth $11,295,000 after acquiring an additional 2,133 shares during the last quarter. Smithfield Trust Co. grew its position in Home Depot by 0.3% during the 2nd quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock worth $1,287,000 after acquiring an additional 25 shares during the last quarter. Finally, BP PLC grew its position in Home Depot by 16.2% during the 2nd quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock worth $27,459,000 after acquiring an additional 25,000 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.
Home Depot Inc (NYSE:HD) traded down $10.86 during mid-day trading on Monday, reaching $183.11. The company had a trading volume of 10,518,153 shares, compared to its average volume of 4,430,000. Home Depot Inc has a fifty-two week low of $136.33 and a fifty-two week high of $207.60. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. The firm has a market cap of $213,830.00, a P/E ratio of 25.40, a P/E/G ratio of 1.43 and a beta of 1.08.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. equities analysts predict that Home Depot Inc will post 7.37 EPS for the current year.
Home Depot announced that its Board of Directors has approved a share buyback plan on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts recently weighed in on the company. Telsey Advisory Group boosted their price objective on Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Robert W. Baird restated an “outperform” rating and set a $195.00 price objective on shares of Home Depot in a research report on Thursday, November 30th. SunTrust Banks upped their price target on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Credit Suisse Group upped their price target on Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Home Depot currently has a consensus rating of “Buy” and an average price target of $189.28.
In other news, EVP Matt Carey sold 41,396 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
WARNING: This piece of content was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of international trademark and copyright laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/05/gamco-investors-inc-et-al-sells-8020-shares-of-home-depot-inc-hd.html.
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.
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.