Covenant Asset Management LLC Has $713,000 Stock Holdings in Home Depot Inc (NYSE:HD)

Covenant Asset Management LLC grew its holdings in Home Depot Inc (NYSE:HD) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,075 shares of the home improvement retailer’s stock after buying an additional 50 shares during the quarter. Covenant Asset Management LLC’s holdings in Home Depot were worth $713,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HD. Community Trust & Investment Co. increased its position in Home Depot by 1.6% in the third quarter. Community Trust & Investment Co. now owns 2,736 shares of the home improvement retailer’s stock worth $635,000 after purchasing an additional 43 shares during the period. First American Trust FSB increased its position in Home Depot by 2.1% in the third quarter. First American Trust FSB now owns 2,186 shares of the home improvement retailer’s stock worth $508,000 after purchasing an additional 45 shares during the period. Lindbrook Capital LLC increased its position in Home Depot by 1.6% in the second quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock worth $635,000 after purchasing an additional 49 shares during the period. First Command Financial Services Inc. increased its position in Home Depot by 0.9% in the second quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock worth $1,167,000 after purchasing an additional 50 shares during the period. Finally, Canton Hathaway LLC increased its position in Home Depot by 4.3% in the second quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock worth $250,000 after purchasing an additional 50 shares during the period. Institutional investors own 69.96% of the company’s stock.

A number of analysts recently commented on HD shares. Robert W. Baird lifted their price objective on Home Depot from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. KeyCorp restated a “hold” rating on shares of Home Depot in a research report on Wednesday, August 21st. Royal Bank of Canada boosted their target price on Home Depot from $229.00 to $233.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their target price on Home Depot from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Argus set a $240.00 target price on Home Depot and gave the stock a “buy” rating in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $228.24.

NYSE:HD opened at $237.93 on Friday. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week high of $238.73. The stock has a market capitalization of $259.30 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.31 and a beta of 1.05. The business’s 50-day simple moving average is $230.02 and its 200-day simple moving average is $211.17.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.07 by $0.10. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The business had revenue of $30.84 billion for the quarter, compared to analysts’ expectations of $30.98 billion. During the same quarter in the previous year, the business posted $3.05 EPS. Home Depot’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts anticipate that Home Depot Inc will post 10.12 earnings per share for the current year.

In other news, EVP William G. Lennie sold 9,200 shares of Home Depot stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the transaction, the executive vice president now owns 84,123 shares in the company, valued at approximately $18,511,266.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward P. Decker sold 22,908 shares of Home Depot stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $227.15, for a total value of $5,203,552.20. Following the transaction, the executive vice president now owns 87,343 shares in the company, valued at approximately $19,839,962.45. The disclosure for this sale can be found here. Insiders have sold a total of 177,508 shares of company stock worth $39,076,428 in the last quarter. 0.27% of the stock is currently owned by company insiders.

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.

See Also: What is Cost of Debt?

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

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

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.