Home Depot Inc (NYSE:HD) is Smead Capital Management Inc.’s 9th Largest Position

Smead Capital Management Inc. trimmed its position in Home Depot Inc (NYSE:HD) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,344 shares of the home improvement retailer’s stock after selling 12,153 shares during the period. Home Depot accounts for approximately 4.3% of Smead Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Smead Capital Management Inc.’s holdings in Home Depot were worth $89,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Trust Co. of Vermont boosted its stake in shares of Home Depot by 1.4% during the 2nd quarter. Trust Co. of Vermont now owns 61,375 shares of the home improvement retailer’s stock worth $12,764,000 after acquiring an additional 845 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Home Depot by 5.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 39,236 shares of the home improvement retailer’s stock valued at $8,160,000 after buying an additional 1,993 shares in the last quarter. JNBA Financial Advisors lifted its stake in Home Depot by 29.9% in the 2nd quarter. JNBA Financial Advisors now owns 4,282 shares of the home improvement retailer’s stock valued at $890,000 after buying an additional 986 shares in the last quarter. Halbert Hargrove Russell LLC purchased a new position in Home Depot in the 2nd quarter valued at about $407,000. Finally, Oak Asset Management LLC lifted its stake in Home Depot by 1.2% in the 2nd quarter. Oak Asset Management LLC now owns 7,869 shares of the home improvement retailer’s stock valued at $1,662,000 after buying an additional 96 shares in the last quarter. 69.74% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Wedbush set a $190.00 price target on shares of Home Depot and gave the company a “hold” rating in a research note on Wednesday, May 22nd. ValuEngine lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $202.00 price target on shares of Home Depot in a research note on Thursday, April 11th. Morgan Stanley raised their price target on shares of Home Depot from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Stifel Nicolaus raised their price target on shares of Home Depot from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Home Depot currently has a consensus rating of “Buy” and a consensus target price of $207.78.

HD traded down $2.82 during trading on Friday, reaching $208.75. The company’s stock had a trading volume of 1,061,184 shares, compared to its average volume of 3,079,738. The stock has a fifty day simple moving average of $212.19. Home Depot Inc has a 1 year low of $158.09 and a 1 year high of $219.30. The company has a market capitalization of $232.03 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.10. The business had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $2.08 EPS. As a group, sell-side analysts anticipate that Home Depot Inc will post 10.17 earnings per share for the current year.

In other news, CFO Carol B. Tome sold 26,334 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $189.17, for a total transaction of $4,981,602.78. Following the completion of the sale, the chief financial officer now owns 519,253 shares in the company, valued at approximately $98,227,090.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the sale, the executive vice president now owns 64,575 shares of the company’s stock, valued at approximately $12,482,347.50. The disclosure for this sale can be found here. Insiders have sold a total of 82,522 shares of company stock valued at $16,156,831 in the last 90 days. Insiders own 0.27% of the company’s stock.

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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Further Reading: What are retained earnings?

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

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