Jensen Investment Management Inc. Sells 29,066 Shares of The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Jensen Investment Management Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 490,113 shares of the home improvement retailer’s stock after selling 29,066 shares during the quarter. Home Depot accounts for 1.7% of Jensen Investment Management Inc.’s holdings, making the stock its 23rd biggest holding. Jensen Investment Management Inc.’s holdings in Home Depot were worth $198,594,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the business. Abacus Wealth Partners LLC grew its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. grew its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares in the last quarter. Acorn Creek Capital LLC grew its stake in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp grew its stake in shares of Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after buying an additional 28 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 1.6 %

HD opened at $405.90 on Monday. The business has a 50 day moving average price of $395.19 and a two-hundred day moving average price of $364.01. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a market cap of $403.18 billion, a PE ratio of 27.31, a P/E/G ratio of 2.81 and a beta of 1.01. The Home Depot, Inc. has a 52 week low of $286.79 and a 52 week high of $421.56.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the business earned $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HD shares. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their target price on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $420.04.

Read Our Latest Report on Home Depot

About Home Depot

(Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

See Also

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