Eagle Ridge Investment Management Decreases Holdings in Home Depot Inc (NYSE:HD)

Eagle Ridge Investment Management lessened its stake in shares of Home Depot Inc (NYSE:HD) by 7.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,649 shares of the home improvement retailer’s stock after selling 4,177 shares during the period. Home Depot comprises about 2.0% of Eagle Ridge Investment Management’s holdings, making the stock its 14th biggest position. Eagle Ridge Investment Management’s holdings in Home Depot were worth $13,440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price Wealth LLC increased its stake in shares of Home Depot by 138.5% in the second quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 72 shares in the last quarter. Selective Wealth Management Inc. increased its stake in shares of Home Depot by 243.9% in the second quarter. Selective Wealth Management Inc. now owns 141 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 100 shares in the last quarter. Your Advocates Ltd. LLP purchased a new position in shares of Home Depot in the first quarter worth about $27,000. Lion Street Advisors LLC purchased a new position in shares of Home Depot in the first quarter worth about $28,000. Finally, Evolution Wealth Advisors LLC increased its stake in shares of Home Depot by 138.8% in the second quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 69.65% of the company’s stock.

Shares of HD opened at $265.49 on Friday. The firm has a market cap of $286.42 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.31 and a beta of 1.06. Home Depot Inc has a fifty-two week low of $140.63 and a fifty-two week high of $269.07. The firm has a 50 day moving average price of $252.21 and a 200-day moving average price of $229.53.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm had revenue of $28.26 billion during the quarter, compared to analysts’ expectations of $27.59 billion. During the same period in the previous year, the firm earned $2.27 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Home Depot Inc will post 10.09 EPS for the current year.

In related news, EVP William G. Lennie sold 17,993 shares of Home Depot stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total value of $4,246,707.86. Following the transaction, the executive vice president now directly owns 54,405 shares of the company’s stock, valued at $12,840,668.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

HD has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Home Depot from $245.00 to $260.00 and gave the stock an “overweight” rating in a research note on Monday, June 22nd. Telsey Advisory Group raised their price objective on shares of Home Depot from $220.00 to $250.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. Wedbush raised their price objective on shares of Home Depot from $200.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Stifel Nicolaus raised their price objective on shares of Home Depot from $260.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Finally, Royal Bank of Canada raised their price objective on shares of Home Depot from $261.00 to $266.00 in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $256.30.

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 d├ęcor 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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