Cabot Wealth Management Inc. Decreases Stake in Home Depot Inc (NYSE:HD)

Cabot Wealth Management Inc. decreased its position in shares of Home Depot Inc (NYSE:HD) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 43,448 shares of the home improvement retailer’s stock after selling 1,205 shares during the period. Home Depot accounts for approximately 1.6% of Cabot Wealth Management Inc.’s portfolio, making the stock its 20th largest holding. Cabot Wealth Management Inc.’s holdings in Home Depot were worth $7,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mascoma Wealth Management LLC increased its position 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 worth $175,000 after acquiring an additional 7 shares in the last quarter. Paragon Wealth Strategies LLC grew its holdings in Home Depot by 0.4% during the 2nd quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock valued at $280,000 after purchasing an additional 7 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its holdings in Home Depot by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,651 shares of the home improvement retailer’s stock valued at $253,000 after purchasing an additional 7 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in Home Depot by 0.6% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock valued at $228,000 after purchasing an additional 9 shares in the last quarter. Finally, Mcdaniel Terry & Co. grew its holdings in Home Depot by 0.5% during the 2nd quarter. Mcdaniel Terry & Co. now owns 1,678 shares of the home improvement retailer’s stock valued at $257,000 after purchasing an additional 9 shares in the last quarter. 70.34% of the stock is currently owned by institutional investors and hedge funds.

HD has been the subject of several recent analyst reports. Royal Bank of Canada set a $179.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a report on Monday, October 30th. Citigroup raised their price target on shares of 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 raised their price target on shares of Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Bank of America lifted their price objective on shares of Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, KeyCorp assumed coverage on shares of Home Depot in a research report on Tuesday, November 7th. They issued a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $190.32.

Shares of Home Depot Inc (HD) traded up $0.97 during mid-day trading on Wednesday, reaching $184.69. 6,761,947 shares of the company were exchanged, compared to its average volume of 5,250,000. The company has a market capitalization of $215,670.00, a price-to-earnings ratio of 25.62, a P/E/G ratio of 1.34 and a beta of 1.08. 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 Inc has a fifty-two week low of $139.34 and a fifty-two week high of $207.60.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. equities analysts anticipate that Home Depot Inc will post 7.38 EPS for the current fiscal year.

Home Depot declared that its Board of Directors has initiated a stock 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 generally an indication that the company’s leadership believes its shares are undervalued.

In other news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

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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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