WESPAC Advisors SoCal LLC increased its stake in shares of Home Depot Inc (NYSE:HD) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,402 shares of the home improvement retailer’s stock after buying an additional 820 shares during the period. Home Depot accounts for approximately 2.5% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 21st biggest holding. WESPAC Advisors SoCal LLC’s holdings in Home Depot were worth $4,154,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Iberiabank Corp lifted its position in Home Depot by 5.9% during the 2nd quarter. Iberiabank Corp now owns 11,055 shares of the home improvement retailer’s stock worth $1,696,000 after buying an additional 618 shares in the last quarter. Capital Investment Advisors LLC lifted its position in Home Depot by 7.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 189,050 shares of the home improvement retailer’s stock worth $29,000,000 after buying an additional 13,198 shares in the last quarter. Fulton Bank N.A. lifted its position in Home Depot by 4.5% during the 2nd quarter. Fulton Bank N.A. now owns 24,166 shares of the home improvement retailer’s stock worth $3,707,000 after buying an additional 1,040 shares in the last quarter. Central Bank & Trust Co. lifted its position in Home Depot by 2.6% during the 2nd quarter. Central Bank & Trust Co. now owns 9,749 shares of the home improvement retailer’s stock worth $1,495,000 after buying an additional 243 shares in the last quarter. Finally, Lincoln Capital LLC acquired a new position in Home Depot during the 2nd quarter worth about $217,000. Institutional investors and hedge funds own 70.18% of the company’s stock.
In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the completion of the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. Home Depot’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 EPS. sell-side analysts predict that Home Depot Inc will post 7.39 earnings per share for the current year.
Home Depot announced that its board has initiated a share repurchase program on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
Several research analysts recently issued reports on HD shares. Credit Suisse Group reiterated a “hold” rating on shares of Home Depot in a research report on Tuesday, December 12th. Deutsche Bank upped their target price on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. SunTrust Banks upped their target price on shares of Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, December 7th. Citigroup restated a “buy” rating and set a $213.00 target price on shares of Home Depot in a research report on Thursday, December 7th. Finally, BTIG Research upped their target price on shares of Home Depot to $215.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $184.39.
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Home Depot Profile
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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