North Point Portfolio Managers Corp OH reduced its stake in Home Depot Inc (NYSE:HD) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,561 shares of the home improvement retailer’s stock after selling 1,493 shares during the period. Home Depot makes up approximately 3.1% of North Point Portfolio Managers Corp OH’s investment portfolio, making the stock its 9th biggest position. North Point Portfolio Managers Corp OH’s holdings in Home Depot were worth $16,754,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of HD. Evolution Wealth Advisors LLC acquired a new position in Home Depot during the second quarter valued at approximately $31,000. Virtus ETF Advisers LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $32,000. Thor Advisors LLC acquired a new position in Home Depot during the first quarter valued at approximately $32,000. Enlightenment Research LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $34,000. Finally, Private Ocean LLC raised its position in Home Depot by 53.3% during the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 69.81% of the company’s stock.
Several research analysts have commented on HD shares. Gabelli downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. They noted that the move was a valuation call. Wedbush set a $190.00 price target on shares of Home Depot and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $192.00 price target on shares of Home Depot in a report on Wednesday, May 1st. Royal Bank of Canada lowered their price target on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, ValuEngine downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $210.12.
Shares of NYSE:HD traded up $1.86 during trading on Friday, hitting $203.65. 3,983,300 shares of the company were exchanged, compared to its average volume of 3,138,303. The business’s 50 day moving average is $211.99 and its 200-day moving average is $198.76. The company has a market capitalization of $222.03 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $219.30.
Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.10. The business had revenue of $26.38 billion during the quarter, compared to the consensus estimate of $26.34 billion. Home Depot had a negative return on equity of 6,597.69% and a net margin of 10.24%. Home Depot’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. On average, equities research analysts expect that Home Depot Inc will post 10.1 EPS for the current 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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