Home Depot Inc (HD) Position Lowered by Eagle Ridge Investment Management
Eagle Ridge Investment Management lowered its position in Home Depot Inc (NYSE:HD) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,661 shares of the home improvement retailer’s stock after selling 890 shares during the period. Home Depot comprises 1.9% of Eagle Ridge Investment Management’s holdings, making the stock its 12th largest position. Eagle Ridge Investment Management’s holdings in Home Depot were worth $12,615,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. ACG Wealth increased its holdings in Home Depot by 7.5% during the 2nd quarter. ACG Wealth now owns 65,596 shares of the home improvement retailer’s stock worth $12,798,000 after purchasing an additional 4,583 shares in the last quarter. Ironvine Capital Partners LLC grew its holdings in shares of Home Depot by 66.7% in the 2nd quarter. Ironvine Capital Partners LLC now owns 9,062 shares of the home improvement retailer’s stock valued at $1,768,000 after acquiring an additional 3,626 shares in the last quarter. First Merchants Corp grew its holdings in shares of Home Depot by 9.0% in the 2nd quarter. First Merchants Corp now owns 20,352 shares of the home improvement retailer’s stock valued at $3,971,000 after acquiring an additional 1,688 shares in the last quarter. Ashfield Capital Partners LLC grew its holdings in shares of Home Depot by 5.1% in the 2nd quarter. Ashfield Capital Partners LLC now owns 77,296 shares of the home improvement retailer’s stock valued at $15,080,000 after acquiring an additional 3,746 shares in the last quarter. Finally, Carlson Capital Management bought a new position in shares of Home Depot in the 2nd quarter valued at about $273,000. Hedge funds and other institutional investors own 69.03% of the company’s stock.
NYSE HD opened at $208.40 on Tuesday. The company has a debt-to-equity ratio of 11.60, a current ratio of 1.13 and a quick ratio of 0.37. Home Depot Inc has a 1-year low of $157.16 and a 1-year high of $215.43. The company has a market capitalization of $242.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 30th were given a $1.03 dividend. The ex-dividend date was Wednesday, August 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.98%. Home Depot’s payout ratio is 55.23%.
In other news, EVP William G. Lennie sold 10,854 shares of Home Depot stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $201.64, for a total value of $2,188,600.56. Following the completion of the sale, the executive vice president now directly owns 40,057 shares in the company, valued at $8,077,093.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Matt Carey sold 4,125 shares of Home Depot stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $195.43, for a total transaction of $806,148.75. Following the completion of the sale, the executive vice president now owns 60,179 shares of the company’s stock, valued at $11,760,781.97. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Several equities research analysts recently issued reports on HD shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $203.00 target price on shares of Home Depot in a research note on Thursday, August 16th. Citigroup reiterated a “buy” rating and issued a $227.00 target price on shares of Home Depot in a research note on Wednesday, August 15th. Jefferies Financial Group started coverage on shares of Home Depot in a research note on Tuesday, August 21st. They issued a “buy” rating and a $228.00 target price for the company. Loop Capital set a $200.00 target price on shares of Home Depot and gave the company a “hold” rating in a research note on Wednesday, July 11th. Finally, ValuEngine upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $205.92.
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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