Bristlecone Advisors LLC Trims Stake in Home Depot Inc (HD)

Bristlecone Advisors LLC trimmed its position in Home Depot Inc (NYSE:HD) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,050 shares of the home improvement retailer’s stock after selling 1,865 shares during the quarter. Home Depot comprises about 0.8% of Bristlecone Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Bristlecone Advisors LLC’s holdings in Home Depot were worth $2,351,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HD. BlackRock Inc. increased its stake in Home Depot by 0.8% during the first quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock worth $12,875,610,000 after acquiring an additional 604,634 shares during the last quarter. Clearbridge Investments LLC increased its stake in Home Depot by 1.4% during the fourth quarter. Clearbridge Investments LLC now owns 8,180,356 shares of the home improvement retailer’s stock worth $1,550,423,000 after acquiring an additional 115,794 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Home Depot by 3.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 6,415,134 shares of the home improvement retailer’s stock worth $1,143,434,000 after acquiring an additional 230,769 shares during the last quarter. Fisher Asset Management LLC increased its stake in Home Depot by 2.6% during the second quarter. Fisher Asset Management LLC now owns 4,326,599 shares of the home improvement retailer’s stock worth $844,119,000 after acquiring an additional 108,535 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Home Depot by 6.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,774,361 shares of the home improvement retailer’s stock worth $672,742,000 after acquiring an additional 213,914 shares during the last quarter. 68.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HD opened at $207.52 on Thursday. Home Depot Inc has a 1 year low of $160.14 and a 1 year high of $215.43. The company has a market cap of $237.97 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.64 and a beta of 1.10. The company has a quick ratio of 0.37, a current ratio of 1.13 and a debt-to-equity ratio of 11.60.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.21. The business had revenue of $30.46 billion during the quarter, compared to analyst estimates of $30.04 billion. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. analysts anticipate that Home Depot Inc will post 9.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 30th were issued a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.99%. Home Depot’s payout ratio is 55.23%.

Several brokerages have weighed in on HD. ValuEngine raised Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. UBS Group boosted their price objective on Home Depot from $212.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. Loop Capital set a $200.00 price objective on Home Depot and gave the stock a “hold” rating in a research note on Wednesday, July 11th. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Citigroup reissued a “buy” rating and set a $227.00 price objective on shares of Home Depot in a research note on Wednesday, August 15th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $205.92.

In related news, EVP William G. Lennie sold 10,854 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total value of $2,188,600.56. Following the completion of the sale, the executive vice president now owns 40,057 shares in the company, valued at $8,077,093.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Carey sold 4,125 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $195.43, for a total value of $806,148.75. Following the completion of the sale, the executive vice president now owns 60,179 shares of the company’s stock, valued at approximately $11,760,781.97. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Home Depot Company 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.

Further Reading: What Is An Exchange-Traded Fund (ETF)?

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

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