Washington Trust Bank lessened its stake in shares of Home Depot Inc (NYSE:HD) by 0.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 38,811 shares of the home improvement retailer’s stock after selling 331 shares during the period. Home Depot comprises about 1.5% of Washington Trust Bank’s portfolio, making the stock its 14th largest holding. Washington Trust Bank’s holdings in Home Depot were worth $9,723,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the company. Ballast Advisors LLC lifted its position in shares of Home Depot by 35.2% during the 2nd quarter. Ballast Advisors LLC now owns 1,624 shares of the home improvement retailer’s stock valued at $407,000 after acquiring an additional 423 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Home Depot by 57.2% during the 2nd quarter. State of Michigan Retirement System now owns 581,556 shares of the home improvement retailer’s stock valued at $145,686,000 after acquiring an additional 211,528 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of Home Depot during the 2nd quarter valued at $1,544,000. Everett Harris & Co. CA lifted its position in shares of Home Depot by 14.0% during the 2nd quarter. Everett Harris & Co. CA now owns 66,516 shares of the home improvement retailer’s stock valued at $16,663,000 after acquiring an additional 8,167 shares during the last quarter. Finally, Silversage Advisors acquired a new stake in shares of Home Depot during the 2nd quarter valued at $225,000. Institutional investors own 69.65% of the company’s stock.
A number of analysts have recently issued reports on HD shares. Royal Bank of Canada increased their target price on Home Depot from $261.00 to $266.00 in a report on Wednesday, May 20th. Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $261.00 target price for the company in a report on Monday, June 1st. CSFB increased their target price on Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Loop Capital increased their target price on Home Depot from $235.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley increased their target price on Home Depot from $245.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $256.30.
Home Depot stock opened at $265.49 on Friday. The company has a market capitalization of $285.54 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.31 and a beta of 1.06. Home Depot Inc has a one year low of $140.63 and a one year high of $269.07. The company’s fifty day moving average price is $252.21 and its two-hundred day moving average price is $229.53.
Home Depot (NYSE:HD) last posted its 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). The business had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.27 earnings per share. Equities research analysts forecast that Home Depot Inc will post 10.09 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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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