Main Street Research LLC Sells 34,722 Shares of Home Depot Inc (NYSE:HD)

Main Street Research LLC reduced its position in Home Depot Inc (NYSE:HD) by 94.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,867 shares of the home improvement retailer’s stock after selling 34,722 shares during the quarter. Main Street Research LLC’s holdings in Home Depot were worth $468,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Cedar Mountain Advisors LLC raised its holdings in Home Depot by 4.5% in the second 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 raised its holdings in Home Depot by 1.4% in the second quarter. Alpha Windward LLC now owns 3,060 shares of the home improvement retailer’s stock worth $767,000 after purchasing an additional 41 shares in the last quarter. Iron Financial LLC raised its holdings in Home Depot by 2.9% in the second quarter. Iron Financial LLC now owns 1,449 shares of the home improvement retailer’s stock worth $363,000 after purchasing an additional 41 shares in the last quarter. Tranquility Partners LLC raised its holdings in 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 purchasing an additional 41 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC raised its holdings in Home Depot by 15.2% in the first quarter. Bay Harbor Wealth Management LLC now owns 318 shares of the home improvement retailer’s stock worth $59,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

In related news, EVP William G. Lennie sold 17,993 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total value of $4,246,707.86. Following the completion of the transaction, the executive vice president now directly owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $261.00 target price for the company in a report on Monday, June 1st. Gordon Haskett lowered Home Depot from an “accumulate” rating to a “hold” rating in a research note on Wednesday, April 22nd. Telsey Advisory Group boosted their price target on Home Depot from $220.00 to $250.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 20th. Wells Fargo & Co boosted their price target on Home Depot from $270.00 to $295.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Oppenheimer started coverage on Home Depot in a research report on Friday, July 10th. They issued a “buy” rating and a $274.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot has an average rating of “Buy” and a consensus target price of $256.30.

Shares of HD stock opened at $265.49 on Friday. The company has a market cap of $286.42 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.31 and a beta of 1.06. The stock has a 50 day simple moving average of $252.21 and a 200-day simple moving average of $229.53. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $269.07.

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

Further Reading: What does a bar chart mean for investors?

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.