CHURCHILL MANAGEMENT Corp reduced its stake in Home Depot Inc (NYSE:HD) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 140,861 shares of the home improvement retailer’s stock after selling 4,719 shares during the quarter. Home Depot comprises approximately 0.8% of CHURCHILL MANAGEMENT Corp’s holdings, making the stock its 15th biggest position. CHURCHILL MANAGEMENT Corp’s holdings in Home Depot were worth $32,682,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Krane Funds Advisors LLC bought a new position in Home Depot during the 2nd quarter valued at about $25,000. Enterprise Trust & Investment Co purchased a new stake in Home Depot in the 3rd quarter valued at about $27,000. Evolution Wealth Advisors LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $31,000. MRA Associates USA LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $34,000. Finally, Atwater Malick LLC purchased a new stake in Home Depot in the 3rd quarter valued at about $39,000. Institutional investors own 69.96% of the company’s stock.
In related news, CFO Carol B. Tome sold 145,400 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total transaction of $31,848,416.00. Following the completion of the sale, the chief financial officer now owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William G. Lennie sold 9,200 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the sale, the executive vice president now directly owns 84,123 shares of the company’s stock, valued at approximately $18,511,266.15. The disclosure for this sale can be found here. Insiders sold a total of 177,508 shares of company stock valued at $39,076,428 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The firm had revenue of $30.84 billion during the quarter, compared to analysts’ expectations of $30.98 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Home Depot Inc will post 10.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th were given a $1.36 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.31%. Home Depot’s payout ratio is presently 55.01%.
Several research firms have issued reports on HD. Guggenheim cut shares of Home Depot from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 17th. Goldman Sachs Group began coverage on shares of Home Depot in a research report on Thursday, July 11th. They issued a “buy” rating and a $235.00 price objective for the company. Wedbush reissued a “neutral” rating and issued a $230.00 price objective (up from $190.00) on shares of Home Depot in a research report on Wednesday, August 21st. Credit Suisse Group set a $213.00 price objective on shares of Home Depot and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, DZ Bank cut shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Home Depot has an average rating of “Buy” and a consensus target price of $228.24.
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.
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