Pinnacle Associates Ltd. decreased its holdings in Home Depot, Inc. (The) (NYSE:HD) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,076 shares of the home improvement retailer’s stock after selling 1,288 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Home Depot were worth $25,016,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Alerus Financial NA raised its position in Home Depot by 12.3% in the 2nd quarter. Alerus Financial NA now owns 12,787 shares of the home improvement retailer’s stock worth $1,962,000 after buying an additional 1,399 shares during the last quarter. Sawtooth Solutions LLC increased its position in shares of Home Depot by 4.5% during the 2nd quarter. Sawtooth Solutions LLC now owns 2,333 shares of the home improvement retailer’s stock valued at $358,000 after purchasing an additional 101 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Home Depot by 0.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 76,259 shares of the home improvement retailer’s stock valued at $11,700,000 after purchasing an additional 405 shares during the last quarter. Cipher Capital LP purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $11,267,000. Finally, Sequoia Financial Advisors LLC increased its position in shares of Home Depot by 8.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,463 shares of the home improvement retailer’s stock valued at $2,372,000 after purchasing an additional 1,203 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.
In other Home Depot news, EVP Matt Carey sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $157.10, for a total value of $5,027,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,483 shares in the company, valued at approximately $9,816,079.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. research analysts predict that Home Depot, Inc. will post 7.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.89 per share. The ex-dividend date is Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.93%. Home Depot’s dividend payout ratio (DPR) is presently 49.44%.
Several research firms have recently commented on HD. Moffett Nathanson began coverage on shares of Home Depot in a research report on Monday. They set a “buy” rating for the company. Telsey Advisory Group upped their price target on shares of Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $195.00 price target on shares of Home Depot in a research report on Thursday, November 30th. Credit Suisse Group reaffirmed an “outperform” rating and set a $183.00 price target (up previously from $175.00) on shares of Home Depot in a research report on Wednesday, November 29th. Finally, Atlantic Securities raised shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price target for the company from $174.16 to $174.95 in a research report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $177.22.
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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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