Chicago Equity Partners LLC Trims Position in Home Depot Inc (HD)

Chicago Equity Partners LLC trimmed its stake in Home Depot Inc (NYSE:HD) by 8.4% in the third quarter, Holdings Channel reports. The fund owned 88,595 shares of the home improvement retailer’s stock after selling 8,145 shares during the quarter. Chicago Equity Partners LLC’s holdings in Home Depot were worth $18,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Home Depot by 4.6% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 176,250 shares of the home improvement retailer’s stock worth $36,513,000 after buying an additional 7,822 shares during the period. Summit X LLC lifted its stake in shares of Home Depot by 12.9% in the third quarter. Summit X LLC now owns 4,649 shares of the home improvement retailer’s stock worth $961,000 after acquiring an additional 531 shares in the last quarter. Youngs Advisory Group Inc. acquired a new position in shares of Home Depot in the third quarter worth about $223,000. Hartford Financial Management Inc. raised its stake in Home Depot by 12.1% during the third quarter. Hartford Financial Management Inc. now owns 23,529 shares of the home improvement retailer’s stock valued at $4,874,000 after buying an additional 2,548 shares in the last quarter. Finally, Willingdon Wealth Management raised its stake in Home Depot by 9.2% during the third quarter. Willingdon Wealth Management now owns 17,870 shares of the home improvement retailer’s stock valued at $3,702,000 after buying an additional 1,508 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

In other news, Director Wayne M. Hewett purchased 250 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were bought at an average cost of $169.62 per share, with a total value of $42,405.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $508,860. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig A. Menear sold 117,327 shares of Home Depot stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $180.42, for a total transaction of $21,168,137.34. Following the completion of the sale, the chief executive officer now directly owns 264,970 shares in the company, valued at approximately $47,805,887.40. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 13,750 shares of company stock valued at $2,401,470 and have sold 137,987 shares valued at $24,769,526. Corporate insiders own 0.25% of the company’s stock.



Shares of NYSE:HD opened at $179.41 on Friday. Home Depot Inc has a 12-month low of $158.09 and a 12-month high of $215.43. The company has a market cap of $203.01 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.24. The business had revenue of $26.30 billion for the quarter, compared to analyst estimates of $26.23 billion. Home Depot had a net margin of 10.00% and a return on equity of 664.88%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. Equities analysts expect that Home Depot Inc will post 9.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Wednesday, November 28th. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.

A number of analysts have recently weighed in on HD shares. Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price target on the stock in a research report on Friday, October 5th. Wells Fargo & Co reaffirmed a “buy” rating and set a $230.00 price target on shares of Home Depot in a research note on Sunday, September 16th. UBS Group reduced their price objective on Home Depot from $225.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Citigroup reduced their price objective on Home Depot from $227.00 to $226.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. Finally, Deutsche Bank reduced their target price on Home Depot from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Home Depot currently has an average rating of “Buy” and an average price target of $204.60.

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Home Depot 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: Quiet Period

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

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