Groesbeck Investment Management Corp NJ Takes $474,000 Position in Home Depot Inc (HD)

Groesbeck Investment Management Corp NJ purchased a new stake in shares of Home Depot Inc (NYSE:HD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,432 shares of the home improvement retailer’s stock, valued at approximately $474,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Home Depot by 0.8% in the 1st quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock valued at $12,875,610,000 after purchasing an additional 604,634 shares during the last quarter. FMR LLC lifted its stake in shares of Home Depot by 0.4% in the 2nd quarter. FMR LLC now owns 28,997,912 shares of the home improvement retailer’s stock valued at $5,657,493,000 after purchasing an additional 109,499 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Home Depot by 2.6% in the 2nd quarter. Fisher Asset Management LLC now owns 4,326,599 shares of the home improvement retailer’s stock valued at $844,119,000 after purchasing an additional 108,535 shares during the last quarter. Swiss National Bank lifted its stake in shares of Home Depot by 2.9% in the 2nd quarter. Swiss National Bank now owns 4,045,615 shares of the home improvement retailer’s stock valued at $789,299,000 after purchasing an additional 115,600 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Home Depot by 3.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,889,146 shares of the home improvement retailer’s stock valued at $758,772,000 after purchasing an additional 114,785 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

HD has been the subject of several analyst reports. Loop Capital set a $200.00 price objective on Home Depot and gave the company a “hold” rating in a research note on Wednesday, July 11th. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $223.00 price objective for the company in a research note on Tuesday, July 17th. Citigroup raised their price objective on Home Depot from $205.00 to $220.00 and gave the company a “positive” rating in a research note on Friday, August 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $203.00 price objective on shares of Home Depot in a research note on Thursday, August 16th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, August 21st. They issued a “buy” rating and a $228.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $205.28.

In other Home Depot news, EVP William G. Lennie sold 10,854 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the transaction, the executive vice president now directly owns 40,057 shares in the company, valued at approximately $8,077,093.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matt Carey sold 4,125 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total value of $806,148.75. Following the transaction, the executive vice president now owns 60,179 shares in the company, valued at $11,760,781.97. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Shares of HD stock opened at $182.01 on Wednesday. Home Depot Inc has a 52-week low of $162.28 and a 52-week high of $215.43. The company has a debt-to-equity ratio of 11.60, a current ratio of 1.13 and a quick ratio of 0.37. The company has a market cap of $205.86 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.21. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The firm had revenue of $30.46 billion during the quarter, compared to analyst estimates of $30.04 billion. During the same period last year, the company earned $0.59 EPS. Home Depot’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts expect that Home Depot Inc will post 9.57 EPS for the current year.

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About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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