Ridgewood Investments LLC Cuts Stake in Home Depot Inc (NYSE:HD)
Ridgewood Investments LLC cut its holdings in shares of Home Depot Inc (NYSE:HD) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,526 shares of the home improvement retailer’s stock after selling 689 shares during the quarter. Home Depot accounts for approximately 1.0% of Ridgewood Investments LLC’s holdings, making the stock its 19th biggest holding. Ridgewood Investments LLC’s holdings in Home Depot were worth $1,257,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in HD. Cedar Mountain Advisors LLC lifted its stake 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 acquiring an additional 40 shares during the period. NTV Asset Management LLC raised its holdings in Home Depot by 0.5% in the 2nd quarter. NTV Asset Management LLC now owns 7,634 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 40 shares in the last quarter. Birch Hill Investment Advisors LLC lifted its position in shares of Home Depot by 0.3% in the 2nd quarter. Birch Hill Investment Advisors LLC now owns 13,155 shares of the home improvement retailer’s stock worth $3,295,000 after purchasing an additional 40 shares during the period. TCG Advisors LP boosted its stake in shares of Home Depot by 3.0% during the 2nd quarter. TCG Advisors LP now owns 1,381 shares of the home improvement retailer’s stock valued at $346,000 after purchasing an additional 40 shares in the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of Home Depot by 1.4% during the 2nd quarter. Alpha Windward LLC now owns 3,060 shares of the home improvement retailer’s stock valued at $767,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.
Several brokerages have commented on HD. Truist Financial raised their price objective on shares of Home Depot from $240.00 to $300.00 in a report on Wednesday, August 12th. UBS Group raised their target price on Home Depot from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Argus lifted their price target on Home Depot from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Nomura Instinet increased their price objective on Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Bank of America upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the company from $290.00 to $330.00 in a report on Wednesday, August 19th. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $288.79.
HD stock opened at $287.66 on Friday. The company has a market cap of $309.65 billion, a price-to-earnings ratio of 26.37, a P/E/G ratio of 2.38 and a beta of 1.09. The business’s 50-day moving average is $278.34 and its two-hundred day moving average is $251.27. Home Depot Inc has a fifty-two week low of $140.63 and a fifty-two week high of $292.95.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.82. The firm had revenue of $38.05 billion during the quarter, compared to analyst estimates of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.17 EPS. On average, sell-side analysts anticipate that Home Depot Inc will post 11.36 EPS for the current year.
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.
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