Abbrea Capital LLC Trims Position in Home Depot Inc (HD)

Abbrea Capital LLC lowered its holdings in Home Depot Inc (NYSE:HD) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,242 shares of the home improvement retailer’s stock after selling 1,029 shares during the quarter. Abbrea Capital LLC’s holdings in Home Depot were worth $1,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Allen Investment Management LLC grew its position in Home Depot by 2.8% in the 4th quarter. Allen Investment Management LLC now owns 20,842 shares of the home improvement retailer’s stock valued at $3,581,000 after purchasing an additional 577 shares during the period. Victory Capital Management Inc. grew its position in Home Depot by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 146,242 shares of the home improvement retailer’s stock valued at $25,127,000 after purchasing an additional 3,097 shares during the period. Water Island Capital LLC grew its position in Home Depot by 152.6% in the 4th quarter. Water Island Capital LLC now owns 24,857 shares of the home improvement retailer’s stock valued at $4,271,000 after purchasing an additional 15,017 shares during the period. Destination Wealth Management grew its position in Home Depot by 25.2% in the 4th quarter. Destination Wealth Management now owns 3,701 shares of the home improvement retailer’s stock valued at $636,000 after purchasing an additional 744 shares during the period. Finally, Intersect Capital LLC boosted its holdings in Home Depot by 13.3% during the 4th quarter. Intersect Capital LLC now owns 4,492 shares of the home improvement retailer’s stock worth $772,000 after acquiring an additional 529 shares during the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.

HD has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Robert W. Baird reaffirmed a “positive” rating on shares of Home Depot in a report on Thursday, April 25th. DZ Bank downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Edward Jones raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Wells Fargo & Co lifted their price objective on shares of Home Depot from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $205.29.

In other news, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the sale, the executive vice president now directly owns 86,813 shares in the company, valued at approximately $15,880,702.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now owns 51,030 shares in the company, valued at $9,423,710.10. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock worth $7,553,141 over the last quarter. Company insiders own 0.27% of the company’s stock.

NYSE HD opened at $188.91 on Thursday. The firm has a market cap of $212.59 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.10. The company had revenue of $26.38 billion for the quarter, compared to analysts’ expectations of $26.34 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 EPS. As a group, sell-side analysts forecast that Home Depot Inc will post 10.08 EPS for the current fiscal year.

Home Depot announced that its board has approved a share buyback program on Tuesday, February 26th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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

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