Ibex Wealth Advisors Sells 3,426 Shares of Home Depot Inc (HD)

Ibex Wealth Advisors lowered its stake in shares of Home Depot Inc (NYSE:HD) by 12.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 23,537 shares of the home improvement retailer’s stock after selling 3,426 shares during the period. Home Depot comprises about 1.8% of Ibex Wealth Advisors’ portfolio, making the stock its 12th largest holding. Ibex Wealth Advisors’ holdings in Home Depot were worth $4,044,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paragon Capital Management LLC raised its stake in shares of Home Depot by 32.3% during the 4th quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock valued at $284,000 after buying an additional 404 shares during the last quarter. RDL Financial Inc. grew its position in shares of Home Depot by 5.2% during the 4th quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock valued at $2,372,000 after acquiring an additional 678 shares during the period. Pinnacle Financial Partners Inc. grew its position in shares of Home Depot by 13.5% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 21,114 shares of the home improvement retailer’s stock valued at $4,374,000 after acquiring an additional 2,504 shares during the period. PFG Advisors acquired a new stake in shares of Home Depot during the 4th quarter valued at about $702,000. Finally, Prudential Financial Inc. grew its position in shares of Home Depot by 3.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock valued at $279,359,000 after acquiring an additional 45,754 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.

A number of equities research analysts have recently commented on HD shares. Citigroup dropped their target price on Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Deutsche Bank raised their target price on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Credit Suisse Group set a $194.00 target price on Home Depot and gave the company a “hold” rating in a research report on Tuesday, February 26th. Finally, Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and a consensus price target of $204.18.

In related news, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value 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 legal filing with the SEC, which is available at this link. Also, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the sale, the executive vice president now owns 39,794 shares in the company, valued at $7,306,178.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,194 shares of company stock worth $7,553,141. 0.27% of the stock is currently owned by insiders.

HD stock opened at $199.63 on Tuesday. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.11. Home Depot Inc has a 12-month low of $158.09 and a 12-month high of $215.43. The stock has a market capitalization of $221.40 billion, a P/E ratio of 20.19, a PEG ratio of 1.74 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.16 by $0.09. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The company had revenue of $26.49 billion for the quarter, compared to analysts’ expectations of $26.57 billion. During the same period in the previous year, the firm posted $1.69 EPS. Home Depot’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts expect that Home Depot Inc will post 10.09 earnings per share for the current year.

Home Depot declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 26th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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About Home Depot

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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