Meridian Investment Counsel Inc. Sells 132 Shares of Home Depot Inc (NYSE:HD)

Meridian Investment Counsel Inc. decreased its holdings in shares of Home Depot Inc (NYSE:HD) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,731 shares of the home improvement retailer’s stock after selling 132 shares during the period. Home Depot comprises approximately 1.5% of Meridian Investment Counsel Inc.’s holdings, making the stock its 15th largest position. Meridian Investment Counsel Inc.’s holdings in Home Depot were worth $2,648,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HD. Lindbrook Capital LLC lifted its stake in Home Depot by 1.6% in the 2nd quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock worth $635,000 after purchasing an additional 49 shares in the last quarter. First Command Financial Services Inc. lifted its stake in Home Depot by 0.9% in the 2nd quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock worth $1,167,000 after purchasing an additional 50 shares in the last quarter. Canton Hathaway LLC lifted its stake in Home Depot by 4.3% in the 2nd quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock worth $250,000 after purchasing an additional 50 shares in the last quarter. Mercer Capital Advisers Inc. lifted its stake in Home Depot by 1.9% in the 2nd quarter. Mercer Capital Advisers Inc. now owns 2,730 shares of the home improvement retailer’s stock worth $568,000 after purchasing an additional 50 shares in the last quarter. Finally, Benin Management CORP lifted its stake in Home Depot by 2.0% in the 2nd quarter. Benin Management CORP now owns 2,591 shares of the home improvement retailer’s stock worth $539,000 after purchasing an additional 50 shares in the last quarter. 70.12% of the stock is owned by hedge funds and other institutional investors.

Home Depot stock traded up $2.23 during midday trading on Thursday, reaching $234.89. The stock had a trading volume of 1,858,971 shares, compared to its average volume of 4,167,961. Home Depot Inc has a 52-week low of $158.09 and a 52-week high of $233.87. The firm has a market cap of $255.03 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a fifty day moving average of $217.12 and a 200 day moving average of $203.15.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The company had revenue of $30.84 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same period in the prior year, the company posted $3.05 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Home Depot Inc will post 10.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, September 4th. Home Depot’s dividend payout ratio (DPR) is currently 55.01%.

In related news, CFO Carol B. Tome sold 145,400 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the sale, the chief financial officer now directly owns 496,374 shares of the company’s stock, valued at approximately $108,725,760.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward P. Decker sold 22,908 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the completion of the sale, the executive vice president now directly owns 87,343 shares in the company, valued at $19,839,962.45. The disclosure for this sale can be found here. Insiders sold a total of 177,508 shares of company stock worth $39,076,428 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

HD has been the topic of several recent research reports. Wedbush restated a “neutral” rating and set a $230.00 target price (up from $190.00) on shares of Home Depot in a research report on Wednesday, August 21st. Loop Capital upped their target price on shares of Home Depot to $200.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Robert W. Baird upped their target price on shares of Home Depot from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, August 21st. SunTrust Banks restated a “hold” rating and set a $208.00 target price on shares of Home Depot in a research report on Wednesday, August 21st. Finally, Wells Fargo & Co restated an “outperform” rating and set a $235.00 target price (up from $230.00) on shares of Home Depot in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $220.11.

Home Depot 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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