Evercore Wealth Management LLC Sells 2,209 Shares of The Home Depot Inc. (HD)
Evercore Wealth Management LLC lowered its stake in shares of The Home Depot Inc. (NYSE:HD) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,580 shares of the home improvement retailer’s stock after selling 2,209 shares during the period. The Home Depot comprises approximately 2.3% of Evercore Wealth Management LLC’s holdings, making the stock its 8th largest position. Evercore Wealth Management LLC’s holdings in The Home Depot were worth $52,938,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in HD. Simmons Bank bought a new stake in The Home Depot during the first quarter valued at about $2,259,000. Geode Capital Management LLC raised its position in The Home Depot by 6.1% in the first quarter. Geode Capital Management LLC now owns 10,960,092 shares of the home improvement retailer’s stock worth $1,459,625,000 after buying an additional 630,567 shares during the period. Kimelman & Baird LLC raised its position in The Home Depot by 5.0% in the first quarter. Kimelman & Baird LLC now owns 166,428 shares of the home improvement retailer’s stock worth $22,206,000 after buying an additional 7,925 shares during the period. Sand Hill Global Advisors LLC acquired a new position in The Home Depot during the first quarter worth $312,000. Finally, Nicholas Investment Partners LP raised its position in The Home Depot by 43.1% in the first quarter. Nicholas Investment Partners LP now owns 24,037 shares of the home improvement retailer’s stock worth $3,207,000 after buying an additional 7,239 shares during the period. 71.91% of the stock is owned by institutional investors and hedge funds.
Shares of The Home Depot Inc. (NYSE:HD) opened at 129.85 on Friday. The firm has a market cap of $160.44 billion, a PE ratio of 21.98 and a beta of 1.05. The Home Depot Inc. has a 52-week low of $109.62 and a 52-week high of $139.00. The stock has a 50 day moving average price of $125.71 and a 200-day moving average price of $130.93.
The Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.97. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The business had revenue of $26.47 billion for the quarter, compared to analyst estimates of $26.47 billion. During the same quarter in the prior year, the company earned $1.71 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that The Home Depot Inc. will post $6.33 EPS for the current fiscal year.
A number of research firms have recently weighed in on HD. Vetr raised The Home Depot from a “hold” rating to a “buy” rating and set a $140.30 price objective for the company in a research note on Thursday, September 8th. Stifel Nicolaus began coverage on The Home Depot in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $157.00 price objective for the company. Royal Bank Of Canada upped their price objective on The Home Depot from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Morgan Stanley set a $145.00 target price on The Home Depot and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $142.00 target price on shares of The Home Depot in a research report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $145.79.
In other news, CFO Carol B. Tome sold 97,610 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $135.35, for a total transaction of $13,211,513.50. Following the sale, the chief financial officer now owns 644,831 shares of the company’s stock, valued at $87,277,875.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy M. Crow sold 49,392 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $135.06, for a total value of $6,670,883.52. Following the sale, the executive vice president now directly owns 224,905 shares in the company, valued at approximately $30,375,669.30. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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