Stewart & Patten Co. LLC Sells 3,386 Shares of Home Depot Inc (HD)

Stewart & Patten Co. LLC lowered its stake in shares of Home Depot Inc (NYSE:HD) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,935 shares of the home improvement retailer’s stock after selling 3,386 shares during the period. Home Depot comprises 3.8% of Stewart & Patten Co. LLC’s investment portfolio, making the stock its 8th biggest position. Stewart & Patten Co. LLC’s holdings in Home Depot were worth $20,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in HD. Jacobi Capital Management LLC grew its stake in Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after acquiring an additional 101 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after acquiring an additional 340 shares in the last quarter. Glassman Wealth Services grew its stake in Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after acquiring an additional 300 shares in the last quarter. St. Johns Investment Management Company LLC grew its stake in Home Depot by 81.8% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after acquiring an additional 495 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its stake in Home Depot by 0.6% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after acquiring an additional 7 shares in the last quarter. 70.13% of the stock is owned by institutional investors and hedge funds.

Home Depot Inc (NYSE HD) opened at $190.51 on Friday. 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 fifty-two week low of $133.05 and a fifty-two week high of $191.49. The company has a market cap of $220,716.23, a P/E ratio of 26.46, a PEG ratio of 1.92 and a beta of 1.11.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the 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 period in the prior year, the business posted $1.60 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts anticipate that Home Depot Inc will post 7.36 earnings per share for the current year.

Home Depot declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were issued a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 annualized dividend and a dividend yield of 1.87%. Home Depot’s dividend payout ratio is currently 49.44%.

In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

HD has been the subject of several research reports. BTIG Research upped their price objective on shares of Home Depot to $215.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Argus upped their price objective on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Oppenheimer set a $178.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, SunTrust Banks upped their price objective on shares of Home Depot to $167.00 and gave the company a “hold” rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned 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.

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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.

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

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