Home Depot Inc (NYSE:HD) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. trimmed its stake in Home Depot Inc (NYSE:HD) by 34.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,530 shares of the home improvement retailer’s stock after selling 5,085 shares during the quarter. Essex Financial Services Inc.’s holdings in Home Depot were worth $2,387,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Capital Research Global Investors raised its holdings in shares of Home Depot by 28.6% in the first quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after acquiring an additional 4,690,072 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in Home Depot in the first quarter valued at $77,291,000. Wellington Management Group LLP increased its stake in Home Depot by 18.8% in the first quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock valued at $4,155,141,000 after purchasing an additional 3,515,402 shares during the last quarter. Jennison Associates LLC increased its stake in Home Depot by 27.3% in the first quarter. Jennison Associates LLC now owns 5,304,289 shares of the home improvement retailer’s stock valued at $990,364,000 after purchasing an additional 1,138,587 shares during the last quarter. Finally, Swiss National Bank increased its stake in Home Depot by 21.4% in the first quarter. Swiss National Bank now owns 4,387,264 shares of the home improvement retailer’s stock valued at $819,146,000 after purchasing an additional 774,600 shares during the last quarter. 69.65% of the stock is owned by institutional investors.

In related news, EVP William G. Lennie sold 17,993 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 54,405 shares in the company, valued at $12,840,668.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Several research firms recently commented on HD. Royal Bank of Canada upped their target price on Home Depot from $261.00 to $266.00 in a research note on Wednesday, May 20th. Barclays reiterated a “buy” rating and issued a $260.00 target price (up from $235.00) on shares of Home Depot in a research note on Wednesday, May 20th. Oppenheimer began coverage on Home Depot in a research note on Friday, July 10th. They issued a “buy” rating and a $274.00 target price for the company. SunTrust Banks dropped their target price on Home Depot from $240.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, April 16th. Finally, Raymond James upped their target price on Home Depot from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Home Depot has a consensus rating of “Buy” and a consensus price target of $265.78.

Shares of NYSE:HD traded down $1.11 during trading on Friday, hitting $280.55. The company’s stock had a trading volume of 2,480,718 shares, compared to its average volume of 5,329,533. Home Depot Inc has a fifty-two week low of $140.63 and a fifty-two week high of $282.97. The stock’s 50-day moving average price is $258.40 and its two-hundred day moving average price is $232.19. The company has a market capitalization of $301.74 billion, a PE ratio of 27.99, a PEG ratio of 2.34 and a beta of 1.06.

Home Depot (NYSE:HD) last released its quarterly earnings results 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 negative return on equity of 496.11% and a net margin of 9.79%. The business had revenue of $28.26 billion during the quarter, compared to analyst estimates of $27.59 billion. During the same quarter last year, the firm posted $2.27 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Home Depot Inc will post 10.15 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.

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

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