Picton Mahoney Asset Management Lowers Stake in Home Depot Inc (HD)

Picton Mahoney Asset Management cut its holdings in Home Depot Inc (NYSE:HD) by 44.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,300 shares of the home improvement retailer’s stock after selling 58,800 shares during the quarter. Picton Mahoney Asset Management’s holdings in Home Depot were worth $14,978,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Fiera Capital Corp boosted its position in Home Depot by 83.7% during the second quarter. Fiera Capital Corp now owns 6,860 shares of the home improvement retailer’s stock worth $1,338,000 after acquiring an additional 3,125 shares during the last quarter. Pinnacle Financial Partners Inc. boosted its holdings in shares of Home Depot by 13.5% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 21,114 shares of the home improvement retailer’s stock valued at $4,374,000 after purchasing an additional 2,504 shares during the last quarter. Dupont Capital Management Corp boosted its holdings in shares of Home Depot by 3.3% in the 2nd quarter. Dupont Capital Management Corp now owns 190,998 shares of the home improvement retailer’s stock valued at $37,264,000 after purchasing an additional 6,025 shares during the last quarter. Parsons Capital Management Inc. RI boosted its holdings in shares of Home Depot by 1.9% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 49,045 shares of the home improvement retailer’s stock valued at $9,569,000 after purchasing an additional 938 shares during the last quarter. Finally, Physicians Financial Services Inc. boosted its holdings in shares of Home Depot by 3.3% in the 2nd quarter. Physicians Financial Services Inc. now owns 8,676 shares of the home improvement retailer’s stock valued at $1,693,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

In related news, EVP Teresa Wynn Roseborough sold 7,203 shares of Home Depot stock in a transaction on Friday, December 7th. The shares were sold at an average price of $177.45, for a total transaction of $1,278,172.35. Following the sale, the executive vice president now owns 23,109 shares of the company’s stock, valued at approximately $4,100,692.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wayne M. Hewett purchased 250 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were purchased at an average cost of $169.62 per share, for a total transaction of $42,405.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $508,860. The disclosure for this purchase can be found here. In the last three months, insiders bought 13,750 shares of company stock worth $2,401,470 and sold 137,987 shares worth $24,769,526. Company insiders own 0.25% of the company’s stock.

A number of equities analysts have weighed in on the stock. Robert W. Baird decreased their price target on shares of Home Depot from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Tuesday, November 13th. Morgan Stanley decreased their price target on shares of Home Depot from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Loop Capital decreased their price target on shares of Home Depot from $200.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, November 13th. Credit Suisse Group set a $204.00 price target on shares of Home Depot and gave the company a “hold” rating in a report on Tuesday, November 13th. Finally, Zacks Investment Research upgraded shares of Home Depot from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $204.60.

Shares of HD stock opened at $179.58 on Friday. Home Depot Inc has a 52 week low of $158.09 and a 52 week high of $215.43. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. The firm has a market capitalization of $202.84 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 EPS for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.24. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. The business had revenue of $26.30 billion for the quarter, compared to the consensus estimate of $26.23 billion. During the same quarter last year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Home Depot Inc will post 9.81 earnings per share for the current year.

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Home Depot Profile

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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