Home Depot, Inc. (The) (HD) Position Trimmed by Private Asset Management Inc.

Private Asset Management Inc. decreased its holdings in shares of Home Depot, Inc. (The) (NYSE:HD) by 85.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,286 shares of the home improvement retailer’s stock after selling 88,951 shares during the quarter. Home Depot makes up approximately 2.5% of Private Asset Management Inc.’s portfolio, making the stock its 13th biggest position. Private Asset Management Inc.’s holdings in Home Depot were worth $15,286,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares during the last quarter. Glassman Wealth Services lifted its stake in Home Depot by 38.3% in the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after buying an additional 300 shares during the last quarter. St. Johns Investment Management Company LLC lifted its stake in Home Depot by 81.8% in the second quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after buying an additional 495 shares during the last quarter. Mascoma Wealth Management LLC lifted its stake in 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 valued at $175,000 after buying an additional 7 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its stake in Home Depot by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the home improvement retailer’s stock valued at $184,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

In related news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

A number of equities research analysts have weighed in on the company. Moffett Nathanson assumed coverage on Home Depot in a research note on Monday, December 4th. They issued a “buy” rating for the company. Morgan Stanley set a $185.00 price objective on Home Depot and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. Guggenheim assumed coverage on Home Depot in a research note on Wednesday, December 13th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, BMO Capital Markets set a $191.00 price objective on Home Depot and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $183.28.

Home Depot, Inc. (NYSE:HD) opened at $182.58 on Monday. The stock has a market capitalization of $213,195.95, a P/E ratio of 25.36, a PEG ratio of 1.85 and a beta of 1.11. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot, Inc. has a twelve month low of $133.05 and a twelve month high of $186.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. 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 prior year, the company posted $1.60 earnings per share. Home Depot’s quarterly revenue was up 8.1% on a year-over-year basis. sell-side analysts forecast that Home Depot, Inc. will post 7.37 EPS for the current year.

Home Depot declared that its Board of Directors has authorized a share buyback program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Wednesday, November 29th. Home Depot’s dividend payout ratio is presently 49.44%.

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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.

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

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