Pillar Pacific Capital Management LLC Trims Stake in Home Depot Inc (HD)

Pillar Pacific Capital Management LLC decreased its holdings in shares of Home Depot Inc (NYSE:HD) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,478 shares of the home improvement retailer’s stock after selling 1,245 shares during the period. Home Depot comprises approximately 1.0% of Pillar Pacific Capital Management LLC’s holdings, making the stock its 28th largest position. Pillar Pacific Capital Management LLC’s holdings in Home Depot were worth $7,929,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jacobi Capital Management LLC lifted its stake in shares of Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after buying an additional 340 shares in the last quarter. Glassman Wealth Services lifted its stake in shares of Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after buying an additional 300 shares in the last quarter. St. Johns Investment Management Company LLC lifted its stake in shares of Home Depot by 81.8% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after buying an additional 495 shares in the last quarter. Finally, Mascoma Wealth Management LLC lifted its stake in shares of Home Depot by 0.6% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after buying an additional 7 shares in the last quarter. 70.18% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Shares of Home Depot Inc (NYSE HD) opened at $197.91 on Tuesday. Home Depot Inc has a fifty-two week low of $134.60 and a fifty-two week high of $199.42. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The firm has a market cap of $229,370.00, a PE ratio of 27.45, a PEG ratio of 1.82 and a beta of 1.11.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same period in the previous year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. research analysts anticipate that Home Depot Inc will post 7.38 earnings per share for the current year.

Home Depot announced that its board has authorized a share repurchase program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of research analysts recently weighed in on HD shares. Credit Suisse Group restated a “hold” rating on shares of Home Depot in a research note on Tuesday, December 12th. Deutsche Bank lifted their target price on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. SunTrust Banks lifted their target price on shares of Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, December 7th. Citigroup restated a “buy” rating and set a $213.00 target price on shares of Home Depot in a research note on Thursday, December 7th. Finally, Bank of America lifted their target price on shares of Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and an average price target of $183.28.

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Home Depot Company 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.

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

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