Ropes Wealth Advisors LLC Acquires 2,580 Shares of Home Depot Inc (NYSE:HD)

Ropes Wealth Advisors LLC increased its holdings in shares of Home Depot Inc (NYSE:HD) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,315 shares of the home improvement retailer’s stock after acquiring an additional 2,580 shares during the period. Home Depot makes up 1.4% of Ropes Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Ropes Wealth Advisors LLC’s holdings in Home Depot were worth $6,513,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Lindbrook Capital LLC grew its position in Home Depot by 1.6% during the second quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock valued at $635,000 after buying an additional 49 shares during the period. First Command Financial Services Inc. grew its position in Home Depot by 0.9% during the second quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock valued at $1,167,000 after buying an additional 50 shares during the period. Canton Hathaway LLC grew its position in Home Depot by 4.3% during the second quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock valued at $250,000 after buying an additional 50 shares during the period. Mercer Capital Advisers Inc. grew its position in Home Depot by 1.9% during the second quarter. Mercer Capital Advisers Inc. now owns 2,730 shares of the home improvement retailer’s stock valued at $568,000 after buying an additional 50 shares during the period. Finally, KG&L Capital Management LLC grew its position in Home Depot by 3.0% during the second quarter. KG&L Capital Management LLC now owns 1,746 shares of the home improvement retailer’s stock valued at $363,000 after buying an additional 51 shares during the period. 69.81% of the stock is currently owned by institutional investors and hedge funds.

HD has been the subject of several recent research reports. Robert W. Baird restated a “positive” rating on shares of Home Depot in a research report on Thursday, April 25th. Loop Capital boosted their target price on shares of Home Depot to $195.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Royal Bank of Canada cut their target price on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Wedbush set a $190.00 target price on shares of Home Depot and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $192.00 target price on shares of Home Depot in a research report on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $209.72.

In related news, EVP Matt Carey sold 34,688 shares of Home Depot stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $202.09, for a total value of $7,010,097.92. Following the completion of the transaction, the executive vice president now owns 81,982 shares in the company, valued at $16,567,742.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Carol B. Tome sold 26,334 shares of Home Depot stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $189.17, for a total value of $4,981,602.78. Following the completion of the transaction, the chief financial officer now owns 519,253 shares of the company’s stock, valued at approximately $98,227,090.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,522 shares of company stock valued at $16,156,831. Company insiders own 0.27% of the company’s stock.

Shares of Home Depot stock opened at $202.43 on Thursday. The stock has a market capitalization of $227.73 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.91 and a beta of 1.12. The firm’s 50-day moving average price is $212.22. Home Depot Inc has a twelve month low of $158.09 and a twelve month high of $219.30.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.10. The firm had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a negative return on equity of 6,597.69% and a net margin of 10.24%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. Equities research analysts expect that Home Depot Inc will post 10.1 earnings per share for the current year.

Home Depot Company 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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