Somerville Kurt F Sells 1,443 Shares of The Home Depot, Inc. $HD

Somerville Kurt F lowered its position in The Home Depot, Inc. (NYSE:HD) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,687 shares of the home improvement retailer’s stock after selling 1,443 shares during the period. Home Depot comprises about 3.0% of Somerville Kurt F’s portfolio, making the stock its 11th largest position. Somerville Kurt F’s holdings in Home Depot were worth $18,107,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Silphium Asset Management Ltd boosted its position in shares of Home Depot by 77.2% during the third quarter. Silphium Asset Management Ltd now owns 13,544 shares of the home improvement retailer’s stock valued at $5,488,000 after buying an additional 5,900 shares during the last quarter. West Family Investments Inc. raised its position in Home Depot by 65.6% in the second quarter. West Family Investments Inc. now owns 3,630 shares of the home improvement retailer’s stock worth $1,331,000 after acquiring an additional 1,438 shares during the period. Truist Financial Corp lifted its position in Home Depot by 0.3% during the third quarter. Truist Financial Corp now owns 1,095,113 shares of the home improvement retailer’s stock valued at $443,729,000 after purchasing an additional 3,608 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Home Depot by 2.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 534,564 shares of the home improvement retailer’s stock valued at $216,600,000 after buying an additional 12,239 shares in the last quarter. Finally, Atlantic Union Bankshares Corp increased its stake in shares of Home Depot by 59.9% in the third quarter. Atlantic Union Bankshares Corp now owns 107,438 shares of the home improvement retailer’s stock worth $43,533,000 after purchasing an additional 40,232 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock traded up $3.73 during midday trading on Friday, hitting $382.31. The company had a trading volume of 277,459 shares, compared to its average volume of 4,132,144. The company has a fifty day simple moving average of $368.81 and a 200 day simple moving average of $380.29. The stock has a market cap of $380.60 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 13.70 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The company had revenue of $41.35 billion for the quarter, compared to analyst estimates of $41.06 billion. During the same quarter in the previous year, the company posted $3.78 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Insider Activity at Home Depot

In related news, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $357.63, for a total value of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares in the company, valued at $1,409,419.83. This trade represents a 33.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $358.26, for a total value of $51,947.70. Following the sale, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. This represents a 1.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,963 shares of company stock valued at $1,748,845 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several research analyst reports. Stifel Nicolaus lowered their target price on shares of Home Depot from $370.00 to $350.00 and set a “hold” rating on the stock in a report on Monday, December 1st. Wells Fargo & Company lowered their target price on shares of Home Depot from $400.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. JPMorgan Chase & Co. dropped their price objective on Home Depot from $444.00 to $423.00 and set an “overweight” rating for the company in a report on Wednesday, November 19th. Bank of America lowered their price target on Home Depot from $450.00 to $430.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $413.00 target price on shares of Home Depot in a research report on Wednesday, December 10th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $408.27.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.