Home Depot Inc (NYSE:HD) Position Lowered by Tuttle Tactical Management

Tuttle Tactical Management decreased its stake in shares of Home Depot Inc (NYSE:HD) by 38.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,438 shares of the home improvement retailer’s stock after selling 7,252 shares during the period. Tuttle Tactical Management’s holdings in Home Depot were worth $2,607,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of HD. Nuveen Asset Management LLC raised its stake in Home Depot by 3,457.2% during the second quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock worth $2,005,132,000 after acquiring an additional 9,370,409 shares during the period. Morgan Stanley raised its stake in Home Depot by 0.5% during the second quarter. Morgan Stanley now owns 8,327,709 shares of the home improvement retailer’s stock worth $1,731,916,000 after acquiring an additional 44,258 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Home Depot by 0.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,156,949 shares of the home improvement retailer’s stock valued at $1,488,431,000 after purchasing an additional 25,410 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Home Depot by 8.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 5,952,239 shares of the home improvement retailer’s stock valued at $1,632,392,000 after purchasing an additional 478,602 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Home Depot by 2.4% in the second quarter. Janus Henderson Group PLC now owns 5,536,321 shares of the home improvement retailer’s stock valued at $1,151,422,000 after purchasing an additional 127,532 shares during the period. 69.96% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on HD shares. DZ Bank lowered shares of Home Depot from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th. Citigroup raised their price target on shares of Home Depot from $246.00 to $269.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Co raised their price target on shares of Home Depot from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Argus set a $240.00 price target on shares of Home Depot and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, UBS Group raised their price target on shares of Home Depot from $215.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. Home Depot presently has an average rating of “Buy” and an average target price of $228.24.

In related news, EVP Edward P. Decker sold 22,908 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the completion of the sale, the executive vice president now directly owns 87,343 shares in the company, valued at $19,839,962.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William G. Lennie sold 9,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the sale, the executive vice president now owns 84,123 shares of the company’s stock, valued at $18,511,266.15. The disclosure for this sale can be found here. Insiders have sold 177,508 shares of company stock worth $39,076,428 in the last quarter. Company insiders own 0.27% of the company’s stock.

Shares of NYSE HD traded up $1.16 during mid-day trading on Friday, reaching $237.93. 2,564,493 shares of the company traded hands, compared to its average volume of 3,486,580. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week high of $238.73. The firm has a market cap of $259.30 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. The stock has a fifty day simple moving average of $230.02 and a 200-day simple moving average of $211.17.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The business had revenue of $30.84 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same quarter last year, the business earned $3.05 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Home Depot Inc will post 10.12 EPS for the current fiscal year.

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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