Redmond Asset Management LLC Acquires Shares of 1,956 Home Depot Inc (NYSE:HD)

Redmond Asset Management LLC acquired a new stake in Home Depot Inc (NYSE:HD) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,956 shares of the home improvement retailer’s stock, valued at approximately $407,000.

A number of other hedge funds also recently made changes to their positions in HD. Lindbrook Capital LLC increased its stake in shares of Home Depot by 1.6% during the second quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock valued at $635,000 after buying an additional 49 shares during the period. First Command Financial Services Inc. grew its stake in Home Depot by 0.9% in the second quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock worth $1,167,000 after purchasing an additional 50 shares during the period. Canton Hathaway LLC grew its stake in Home Depot by 4.3% in the second quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock worth $250,000 after purchasing an additional 50 shares during the period. Mercer Capital Advisers Inc. grew its stake in Home Depot by 1.9% in the second quarter. Mercer Capital Advisers Inc. now owns 2,730 shares of the home improvement retailer’s stock worth $568,000 after purchasing an additional 50 shares during the period. Finally, Benin Management CORP grew its stake in Home Depot by 2.0% in the second quarter. Benin Management CORP now owns 2,591 shares of the home improvement retailer’s stock worth $539,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 69.81% of the company’s stock.

In other news, EVP Matt Carey sold 34,688 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $202.09, for a total value of $7,010,097.92. Following the sale, the executive vice president now directly owns 81,982 shares of the company’s stock, valued at $16,567,742.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 8,500 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $194.38, for a total value of $1,652,230.00. Following the completion of the sale, the executive vice president now directly owns 13,357 shares in the company, valued at $2,596,333.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,522 shares of company stock worth $16,156,831. Insiders own 0.27% of the company’s stock.

HD has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Gabelli cut Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $192.00 price target on shares of Home Depot in a research note on Wednesday, May 1st. Loop Capital upped their price target on Home Depot to $195.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, ValuEngine cut Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $210.12.

Shares of NYSE HD traded up $1.86 during trading on Friday, reaching $203.65. The company had a trading volume of 3,983,300 shares, compared to its average volume of 3,081,796. Home Depot Inc has a 12-month low of $158.09 and a 12-month high of $219.30. The stock has a market cap of $221.81 billion, a PE ratio of 20.59, a P/E/G ratio of 1.87 and a beta of 1.12. The business’s 50-day moving average is $211.99 and its 200 day moving average is $198.76.

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 analysts’ consensus estimates of $2.17 by $0.10. Home Depot had a negative return on equity of 6,597.69% and a net margin of 10.24%. The firm had revenue of $26.38 billion for the quarter, compared to analysts’ expectations of $26.34 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts forecast that Home Depot Inc will post 10.1 EPS for the current year.

Home Depot 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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