Gateway Investment Advisers LLC Trims Stock Position in Home Depot Inc (NYSE:HD)

Gateway Investment Advisers LLC cut its stake in Home Depot Inc (NYSE:HD) by 10.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 555,800 shares of the home improvement retailer’s stock after selling 63,610 shares during the period. Home Depot comprises approximately 1.3% of Gateway Investment Advisers LLC’s portfolio, making the stock its 12th largest position. Gateway Investment Advisers LLC owned approximately 0.05% of Home Depot worth $128,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wambolt & Associates LLC raised its holdings in shares of Home Depot by 14.6% in the third quarter. Wambolt & Associates LLC now owns 2,409 shares of the home improvement retailer’s stock valued at $559,000 after buying an additional 306 shares during the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Home Depot by 0.6% in the third quarter. Roman Butler Fullerton & Co. now owns 12,561 shares of the home improvement retailer’s stock valued at $2,914,000 after buying an additional 81 shares during the last quarter. Epstein & White Financial LLC raised its holdings in shares of Home Depot by 8.5% in the third quarter. Epstein & White Financial LLC now owns 1,960 shares of the home improvement retailer’s stock valued at $453,000 after buying an additional 153 shares during the last quarter. Winmill & CO. Inc. purchased a new stake in shares of Home Depot in the third quarter valued at about $4,037,000. Finally, KMG Fiduciary Partners LLC purchased a new stake in shares of Home Depot in the third quarter valued at about $202,000. 69.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Home Depot stock traded up $1.37 on Tuesday, reaching $235.55. 1,459,075 shares of the stock were exchanged, compared to its average volume of 3,672,227. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $236.70. The business has a fifty day moving average price of $228.63 and a two-hundred day moving average price of $210.26. The firm has a market capitalization of $256.99 billion, a PE ratio of 23.82, a PEG ratio of 2.29 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 6,597.69%. The company had revenue of $30.84 billion for the quarter, compared to analyst estimates of $30.98 billion. During the same period in the prior year, the business posted $3.05 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Home Depot Inc will post 10.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th were given a dividend of $1.36 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.44 annualized dividend and a yield of 2.31%. Home Depot’s payout ratio is currently 55.01%.

In other Home Depot news, EVP Edward P. Decker sold 22,908 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $227.15, for a total transaction of $5,203,552.20. Following the transaction, the executive vice president now directly owns 87,343 shares in the company, valued at $19,839,962.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Carol B. Tome sold 145,400 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total transaction of $31,848,416.00. Following the transaction, the chief financial officer now owns 496,374 shares in the company, valued at $108,725,760.96. The disclosure for this sale can be found here. Insiders have sold 177,508 shares of company stock worth $39,076,428 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

HD has been the subject of a number of research reports. Guggenheim cut shares of Home Depot from a “buy” rating to a “neutral” rating in a report on Tuesday, September 17th. ValuEngine cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $208.00 target price on shares of Home Depot in a report on Wednesday, August 21st. Gabelli lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Raymond James reiterated an “outperform” rating and set a $250.00 price target on shares of Home Depot in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $228.24.

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.

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

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