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.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.21. Home Depot had a net margin of 9.45% and a return on equity of 522.68%. The company had revenue of $30.46 billion during the quarter, compared to the consensus estimate of $30.04 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. sell-side analysts anticipate that Home Depot Inc will post 9.58 earnings per share for the current year.

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 d├ęcor 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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