TradeLink Capital LLC Purchases New Stake in Home Depot Inc (NYSE:HD)

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TradeLink Capital LLC acquired a new position in Home Depot Inc (NYSE:HD) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,040 shares of the home improvement retailer’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Home Depot by 18.8% in the 1st quarter. Wellington Management Group LLP now owns 22,254,517 shares of the home improvement retailer’s stock worth $4,155,141,000 after purchasing an additional 3,515,402 shares in the last quarter. Capital Research Global Investors raised its holdings in Home Depot by 28.6% in the 1st quarter. Capital Research Global Investors now owns 21,071,595 shares of the home improvement retailer’s stock worth $3,934,286,000 after purchasing an additional 4,690,072 shares in the last quarter. Geode Capital Management LLC raised its holdings in Home Depot by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after purchasing an additional 191,403 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Home Depot by 3.1% in the 1st quarter. Bank of New York Mellon Corp now owns 10,051,038 shares of the home improvement retailer’s stock worth $1,876,628,000 after purchasing an additional 303,357 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Home Depot by 2.4% in the 1st quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock worth $1,728,173,000 after purchasing an additional 216,078 shares in the last quarter. Institutional investors and hedge funds own 69.65% of the company’s stock.

In other news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the sale, the executive vice president now owns 54,405 shares of the company’s stock, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Shares of NYSE HD opened at $265.49 on Friday. The firm’s 50-day moving average price is $252.21 and its 200-day moving average price is $229.53. The company has a market cap of $285.54 billion, a PE ratio of 26.39, a PEG ratio of 2.31 and a beta of 1.06. Home Depot Inc has a 52-week low of $140.63 and a 52-week high of $269.07.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). The company had revenue of $28.26 billion for the quarter, compared to analysts’ expectations of $27.59 billion. Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.27 EPS. As a group, equities research analysts forecast that Home Depot Inc will post 10.09 EPS for the current fiscal year.

Several research analysts have commented on HD shares. UBS Group upped their price objective on shares of Home Depot from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Piper Sandler upped their price objective on shares of Home Depot from $231.00 to $236.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. They noted that the move was a valuation call. Robert W. Baird upped their target price on shares of Home Depot from $215.00 to $265.00 and gave the stock an “outperform” rating in a research report on Monday, May 18th. Credit Suisse Group upped their target price on shares of Home Depot from $215.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus upped their target price on shares of Home Depot from $260.00 to $276.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and a consensus price target of $256.30.

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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