Pinnacle Holdings LLC Reduces Holdings in Home Depot Inc (NYSE:HD)

Pinnacle Holdings LLC lessened its position in shares of Home Depot Inc (NYSE:HD) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,582 shares of the home improvement retailer’s stock after selling 177 shares during the period. Home Depot accounts for 1.5% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 12th largest position. Pinnacle Holdings LLC’s holdings in Home Depot were worth $4,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Home Depot by 8,331.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock valued at $125,000 after purchasing an additional 21,212,570 shares during the period. Clearbridge Investments LLC increased its stake in Home Depot by 2.2% in the 1st quarter. Clearbridge Investments LLC now owns 7,199,871 shares of the home improvement retailer’s stock worth $1,381,583,000 after acquiring an additional 158,174 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Home Depot by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,156,949 shares of the home improvement retailer’s stock worth $1,488,431,000 after acquiring an additional 25,410 shares during the last quarter. Janus Henderson Group PLC increased its stake in Home Depot by 2.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,536,321 shares of the home improvement retailer’s stock worth $1,151,422,000 after acquiring an additional 127,532 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Home Depot by 2.9% in the 2nd quarter. Fisher Asset Management LLC now owns 4,854,657 shares of the home improvement retailer’s stock worth $1,009,623,000 after acquiring an additional 138,011 shares during the last quarter. 70.12% of the stock is currently owned by hedge funds and other institutional investors.

HD has been the topic of a number of research analyst reports. KeyCorp restated a “hold” rating on shares of Home Depot in a research note on Wednesday, August 21st. Goldman Sachs Group initiated coverage on Home Depot in a research note on Thursday, July 11th. They issued a “buy” rating and a $235.00 target price on the stock. Wedbush restated a “neutral” rating and issued a $230.00 target price (up from $190.00) on shares of Home Depot in a research note on Wednesday, August 21st. Stifel Nicolaus upped their target price on Home Depot to $230.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $235.00 target price (up from $230.00) on shares of Home Depot in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $221.39.

In related news, CFO Carol B. Tome sold 145,400 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total transaction of $31,848,416.00. Following the completion of the sale, the chief financial officer now directly owns 496,374 shares in the company, valued at approximately $108,725,760.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William G. Lennie sold 9,200 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $220.05, for a total value of $2,024,460.00. Following the sale, the executive vice president now owns 84,123 shares of the company’s stock, valued at $18,511,266.15. The disclosure for this sale can be found here. Insiders have sold a total of 177,508 shares of company stock worth $39,076,428 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Shares of Home Depot stock traded down $0.35 during trading on Friday, hitting $233.45. 289,003 shares of the stock traded hands, compared to its average volume of 4,578,911. The stock has a market cap of $255.17 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 2.16 and a beta of 1.05. The firm’s fifty day moving average is $217.12 and its 200-day moving average is $203.15. Home Depot Inc has a 52 week low of $158.09 and a 52 week high of $235.49.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.33%. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.

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.

Recommended Story: What does cost of debt say about a company’s financial health?

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

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

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit