Todays Report: The Cottage Street Advisors LLC invests in The Home Depot Inc. (HD) Shares

The Cottage Street Advisors LLC invests in The Home Depot Inc. (HD) Shares

Cottage Street Advisors LLC increased its position in shares of The Home Depot Inc. (NYSE:HD) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 18,124 shares of the home improvement retailer’s stock after buying an additional 1,220 shares during the period. The Home Depot makes up 1.9% of Cottage Street Advisors LLC’s holdings, making the stock its 16th largest position. Cottage Street Advisors LLC’s holdings in The Home Depot were worth $2,314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. River Wealth Advisors LLC raised its position in The Home Depot by 18.9% in the first quarter. River Wealth Advisors LLC now owns 5,061 shares of the home improvement retailer’s stock worth $675,000 after buying an additional 803 shares during the period. Telemus Capital LLC raised its position in The Home Depot by 7.9% in the first quarter. Telemus Capital LLC now owns 38,515 shares of the home improvement retailer’s stock worth $5,139,000 after buying an additional 2,812 shares during the period. Arvest Bank Trust Division acquired a new position in The Home Depot during the first quarter worth $281,000. Sanders Morris Harris Inc. acquired a new position in The Home Depot during the first quarter worth $3,524,000. Finally, Investment Centers of America Inc. raised its position in The Home Depot by 29.5% in the first quarter. Investment Centers of America Inc. now owns 21,236 shares of the home improvement retailer’s stock worth $2,829,000 after buying an additional 4,842 shares during the period. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

The Home Depot Inc. (NYSE:HD) traded up 0.67% during trading on Wednesday, hitting $126.69. 3,545,888 shares of the company’s stock traded hands. The Home Depot Inc. has a 12-month low of $109.62 and a 12-month high of $139.00. The firm’s 50-day moving average price is $129.84 and its 200 day moving average price is $132.51. The stock has a market cap of $156.53 billion, a P/E ratio of 21.44 and a beta of 0.97.

The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.97. The business had revenue of $26.47 billion for the quarter, compared to the consensus estimate of $26.47 billion. The Home Depot had a net margin of 8.08% and a return on equity of 110.52%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.71 earnings per share. Analysts anticipate that The Home Depot Inc. will post $6.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Tuesday, August 30th. The Home Depot’s payout ratio is 46.54%.

A number of research firms have weighed in on HD. Stifel Nicolaus began coverage on shares of The Home Depot in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $157.00 target price on the stock. Wedbush reissued a “neutral” rating and issued a $140.00 target price (down from $145.00) on shares of The Home Depot in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $142.00 target price on shares of The Home Depot in a research note on Tuesday, August 16th. Zacks Investment Research lowered shares of The Home Depot from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Royal Bank Of Canada raised their target price on shares of The Home Depot from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $146.86.

In other The Home Depot news, EVP Matt Carey sold 29,357 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $136.26, for a total transaction of $4,000,184.82. Following the transaction, the executive vice president now owns 88,872 shares of the company’s stock, valued at $12,109,698.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Carol B. Tome sold 97,610 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 644,831 shares in the company, valued at approximately $87,277,875.85. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

The Home Depot Company Profile

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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