Chartwell Investment Partners LLC Lowers Stake in Home Depot Inc (NYSE:HD)

Chartwell Investment Partners LLC trimmed its position in Home Depot Inc (NYSE:HD) by 12.7% during the second quarter, HoldingsChannel.com reports. The firm owned 46,659 shares of the home improvement retailer’s stock after selling 6,806 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Home Depot were worth $11,689,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in Home Depot by 4.5% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 934 shares of the home improvement retailer’s stock worth $234,000 after purchasing an additional 40 shares in the last quarter. Alpha Windward LLC lifted its position in Home Depot by 1.4% during the second quarter. Alpha Windward LLC now owns 3,060 shares of the home improvement retailer’s stock valued at $767,000 after buying an additional 41 shares in the last quarter. Iron Financial LLC grew its stake in Home Depot by 2.9% during the second quarter. Iron Financial LLC now owns 1,449 shares of the home improvement retailer’s stock worth $363,000 after buying an additional 41 shares during the period. Tranquility Partners LLC increased its position in shares of Home Depot by 1.3% in the second quarter. Tranquility Partners LLC now owns 3,297 shares of the home improvement retailer’s stock worth $826,000 after acquiring an additional 41 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Home Depot by 15.2% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 318 shares of the home improvement retailer’s stock valued at $59,000 after acquiring an additional 42 shares during the period. 69.65% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $12,840,668.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on HD shares. Barclays reaffirmed a “buy” rating and set a $260.00 price target (up from $235.00) on shares of Home Depot in a research report on Wednesday, May 20th. Piper Sandler upped their target price on Home Depot from $231.00 to $236.00 and gave the stock a “neutral” rating in a research report on Friday, May 15th. They noted that the move was a valuation call. SunTrust Banks dropped their target price on Home Depot from $240.00 to $220.00 and set a “hold” rating on the stock in a report on Thursday, April 16th. Oppenheimer assumed coverage on Home Depot in a research report on Friday, July 10th. They set a “buy” rating and a $274.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Home Depot from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, June 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $256.30.

NYSE:HD opened at $265.49 on Friday. The company has a market cap of $285.54 billion, a PE ratio of 26.39, a P/E/G ratio of 2.31 and a beta of 1.06. The business’s 50 day moving average is $252.21 and its two-hundred day moving average is $229.53. Home Depot Inc has a 52 week low of $140.63 and a 52 week high of $269.07.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.19). The firm had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.27 earnings per share. Analysts anticipate that Home Depot Inc will post 10.09 earnings per share 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 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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