State of Tennessee Treasury Department trimmed its stake in shares of Home Depot Inc (NYSE:HD) by 32.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 855,013 shares of the home improvement retailer’s stock after selling 406,842 shares during the quarter. Home Depot comprises approximately 0.7% of State of Tennessee Treasury Department’s investment portfolio, making the stock its 23rd biggest position. State of Tennessee Treasury Department owned about 0.07% of Home Depot worth $139,846,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in shares of Home Depot by 2,013.2% in the second quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock valued at $509,247,000 after acquiring an additional 3,162,631 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of Home Depot by 15,121.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock valued at $12,158,000 after acquiring an additional 1,852,784 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Home Depot in the second quarter valued at about $133,780,000. Parametric Portfolio Associates LLC boosted its position in shares of Home Depot by 35.2% in the second quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock valued at $500,903,000 after acquiring an additional 850,074 shares during the period. Finally, Jennison Associates LLC lifted its position in Home Depot by 14.4% during the second quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock worth $930,903,000 after purchasing an additional 761,586 shares during the period. 70.14% of the stock is owned by hedge funds and other institutional investors.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.
Home Depot Inc (HD) opened at $196.42 on Friday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. The company has a market capitalization of $229,369.27, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. Home Depot Inc has a 52 week low of $133.94 and a 52 week high of $199.42.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. The firm 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 business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. sell-side analysts forecast that Home Depot Inc will post 7.38 EPS for the current year.
Home Depot declared that its board has initiated a stock buyback plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on HD shares. Credit Suisse Group reaffirmed a “hold” rating on shares of Home Depot in a research report on Tuesday, December 12th. Deutsche Bank upped their price objective on shares of Home Depot from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. SunTrust Banks upped their price objective on shares of Home Depot from $167.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, December 7th. Citigroup reaffirmed a “buy” rating and set a $213.00 price objective on shares of Home Depot in a research report on Thursday, December 7th. Finally, Bank of America upped their price objective on shares of Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Home Depot presently has an average rating of “Buy” and a consensus target price of $183.28.
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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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