Home Depot Inc (HD) Stake Lessened by Redwood Investments LLC

Redwood Investments LLC lowered its stake in shares of Home Depot Inc (NYSE:HD) by 28.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 39,133 shares of the home improvement retailer’s stock after selling 15,720 shares during the quarter. Redwood Investments LLC’s holdings in Home Depot were worth $7,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HD. Fiera Capital Corp boosted its position in Home Depot by 83.7% in the second quarter. Fiera Capital Corp now owns 6,860 shares of the home improvement retailer’s stock valued at $1,338,000 after buying an additional 3,125 shares during the last quarter. Amalgamated Bank boosted its position in Home Depot by 4.2% in the second quarter. Amalgamated Bank now owns 180,040 shares of the home improvement retailer’s stock valued at $35,126,000 after buying an additional 7,323 shares during the last quarter. Dupont Capital Management Corp boosted its position in Home Depot by 3.3% in the second quarter. Dupont Capital Management Corp now owns 190,998 shares of the home improvement retailer’s stock valued at $37,264,000 after buying an additional 6,025 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Home Depot by 3.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 6,415,134 shares of the home improvement retailer’s stock valued at $1,143,434,000 after buying an additional 230,769 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its position in Home Depot by 1.9% in the second quarter. Parsons Capital Management Inc. RI now owns 49,045 shares of the home improvement retailer’s stock valued at $9,569,000 after buying an additional 938 shares during the last quarter. Hedge funds and other institutional investors own 69.24% of the company’s stock.

In other news, EVP William G. Lennie sold 10,854 shares of the stock in a transaction that occurred 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 owns 40,057 shares in the company, valued at approximately $8,077,093.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Matt Carey sold 4,125 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were 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 approximately $11,760,781.97. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their target price on Home Depot from $225.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. Wells Fargo & Co dropped their target price on Home Depot from $230.00 to $220.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Citigroup reiterated a “buy” rating and issued a $227.00 target price on shares of Home Depot in a research report on Wednesday, August 15th. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, August 21st. They issued a “buy” rating and a $228.00 target price on the stock. Finally, Zacks Investment Research upgraded Home Depot from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Home Depot presently has a consensus rating of “Buy” and a consensus price target of $205.28.

Home Depot stock opened at $179.93 on Friday. The company has a debt-to-equity ratio of 11.60, a quick ratio of 0.37 and a current ratio of 1.13. Home Depot Inc has a 12 month low of $162.28 and a 12 month high of $215.43. The company has a market capitalization of $201.23 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.38 and a beta of 1.26.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 14th. The home improvement retailer reported $3.05 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $30.46 billion for the quarter, compared to analyst estimates of $30.04 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Home Depot Inc will post 9.57 earnings per share for the current year.

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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

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