Somerville Kurt F Cuts Stake in The Home Depot, Inc. $HD

Somerville Kurt F lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 44,687 shares of the home improvement retailer’s stock after selling 1,443 shares during the quarter. Home Depot makes up approximately 3.0% of Somerville Kurt F’s portfolio, making the stock its 11th biggest holding. Somerville Kurt F’s holdings in Home Depot were worth $18,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after purchasing an additional 331,217 shares during the last quarter. State Street Corp raised its holdings in Home Depot by 0.7% in the 2nd quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after buying an additional 300,352 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock worth $8,394,611,000 after acquiring an additional 327,674 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Home Depot by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after buying an additional 153,582 shares during the period. Finally, Norges Bank purchased a new position in Home Depot during the 2nd quarter valued at about $4,885,603,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $424.00 target price on shares of Home Depot in a research note on Wednesday, December 10th. Citigroup boosted their price target on shares of Home Depot from $407.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. TD Cowen increased their price objective on Home Depot from $410.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. UBS Group set a $430.00 target price on Home Depot in a report on Wednesday, December 10th. Finally, Guggenheim lowered their target price on Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $408.27.

Home Depot Stock Up 1.0%

Shares of HD traded up $3.73 during mid-day trading on Friday, reaching $382.31. The company’s stock had a trading volume of 277,459 shares, compared to its average volume of 4,132,144. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $426.75. The stock has a market cap of $380.60 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 13.70 and a beta of 1.08. The company’s 50 day moving average is $368.81 and its 200 day moving average is $380.29.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion during the quarter, compared to analyst estimates of $41.06 billion. Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $3.78 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 2,872 shares of the business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the sale, the executive vice president directly owned 13,196 shares of the company’s stock, valued at $4,599,069.92. The trade was a 17.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angie Brown sold 1,946 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This represents a 33.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 4,963 shares of company stock worth $1,748,845. 0.10% of the stock is currently owned by insiders.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.