Putnam Investments LLC Reduces Holdings in Home Depot Inc (NYSE:HD)

Putnam Investments LLC lowered its stake in Home Depot Inc (NYSE:HD) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,734,544 shares of the home improvement retailer’s stock after selling 162,964 shares during the period. Home Depot accounts for approximately 1.3% of Putnam Investments LLC’s holdings, making the stock its 11th biggest holding. Putnam Investments LLC owned 0.25% of Home Depot worth $568,703,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Oregon Public Employees Retirement Fund boosted its stake in Home Depot by 8,331.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock valued at $125,000 after purchasing an additional 21,212,570 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of Home Depot by 21,191.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,534,097 shares of the home improvement retailer’s stock worth $353,410,000 after acquiring an additional 3,517,498 shares during the period. Invesco Ltd. lifted its stake in shares of Home Depot by 104.6% in the 2nd quarter. Invesco Ltd. now owns 4,531,199 shares of the home improvement retailer’s stock worth $942,353,000 after acquiring an additional 2,316,574 shares during the period. AMF Pensionsforsakring AB acquired a new stake in shares of Home Depot in the 2nd quarter worth approximately $197,884,000. Finally, Boston Partners acquired a new stake in shares of Home Depot in the 4th quarter worth approximately $147,976,000. 69.92% of the stock is owned by institutional investors.

HD stock traded down $1.55 during trading hours on Tuesday, hitting $229.44. The company’s stock had a trading volume of 2,527,371 shares, compared to its average volume of 4,442,647. The company has a market capitalization of $256.24 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. Home Depot Inc has a 12 month low of $158.09 and a 12 month high of $235.49. The stock has a 50 day moving average price of $218.51 and a two-hundred day moving average price of $204.00.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.07 by $0.10. The company had revenue of $30.84 billion during the quarter, compared to the consensus estimate of $30.98 billion. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 earnings per share. On average, analysts predict that Home Depot Inc will post 10.11 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Wednesday, September 4th. Home Depot’s dividend payout ratio is currently 55.01%.

In related news, CFO Carol B. Tome sold 145,400 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total transaction of $31,848,416.00. Following the completion of the sale, the chief financial officer now directly owns 496,374 shares of the company’s stock, valued at approximately $108,725,760.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward P. Decker sold 22,908 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the sale, the executive vice president now directly owns 87,343 shares of the company’s stock, valued at $19,839,962.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,508 shares of company stock valued at $39,076,428. 0.27% of the stock is owned by insiders.

Several analysts recently commented on the stock. Goldman Sachs Group assumed coverage on shares of Home Depot in a research note on Thursday, July 11th. They set a “buy” rating and a $235.00 target price for the company. Loop Capital increased their target price on shares of Home Depot to $200.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Citigroup increased their target price on shares of Home Depot from $246.00 to $269.00 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised shares of Home Depot from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $235.00 target price (up from $230.00) on shares of Home Depot in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $221.39.

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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