Pictet Asset Management Ltd. Lowers Stake in Home Depot, Inc. (The) (NYSE:HD)

Pictet Asset Management Ltd. reduced its stake in Home Depot, Inc. (The) (NYSE:HD) by 16.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 690,236 shares of the home improvement retailer’s stock after selling 135,475 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Home Depot, Inc. (The) worth $101,348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. MA purchased a new position in shares of Home Depot, Inc. (The) during the fourth quarter valued at about $67,225,000. HCR Wealth Advisors purchased a new position in shares of Home Depot, Inc. (The) during the fourth quarter valued at about $1,015,000. Banco Santander S.A. purchased a new position in shares of Home Depot, Inc. (The) during the fourth quarter valued at about $1,001,000. Ancora Advisors LLC boosted its position in shares of Home Depot, Inc. (The) by 290.1% in the fourth quarter. Ancora Advisors LLC now owns 18,906 shares of the home improvement retailer’s stock valued at $2,534,000 after buying an additional 14,060 shares during the period. Finally, Seven Eight Capital LP purchased a new position in shares of Home Depot, Inc. (The) during the fourth quarter valued at about $1,096,000. 71.27% of the stock is owned by institutional investors.

Shares of Home Depot, Inc. (NYSE:HD) opened at 147.49 on Friday. Home Depot, Inc. has a 1-year low of $119.20 and a 1-year high of $160.86. The firm has a market cap of $174.48 billion, a PE ratio of 21.23 and a beta of 1.08. The company has a 50-day moving average of $151.15 and a 200-day moving average of $150.06.

Home Depot, Inc. (The) (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.04. Home Depot, Inc. (The) had a return on equity of 192.30% and a net margin of 8.63%. The business had revenue of $28.11 billion during the quarter, compared to analysts’ expectations of $27.84 billion. During the same quarter in the previous year, the firm earned $1.97 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that Home Depot, Inc. will post $7.33 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 31st will be paid a dividend of $0.89 per share. The ex-dividend date is Tuesday, August 29th. This represents a $3.56 annualized dividend and a yield of 2.41%. Home Depot, Inc. (The)’s dividend payout ratio is 51.15%.

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A number of brokerages have recently commented on HD. UBS AG restated a “buy” rating and set a $175.00 target price on shares of Home Depot, Inc. (The) in a research report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $178.00 price target on shares of Home Depot, Inc. (The) in a research report on Wednesday. Bank of America Corporation set a $180.00 price target on shares of Home Depot, Inc. (The) and gave the stock a “buy” rating in a research report on Wednesday. Barclays PLC set a $165.00 price target on shares of Home Depot, Inc. (The) and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wedbush reiterated a “market perform” rating on shares of Home Depot, Inc. (The) in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $169.81.

In related news, EVP Ann Marie Campbell sold 10,717 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $152.40, for a total transaction of $1,633,270.80. Following the sale, the executive vice president now directly owns 64,810 shares in the company, valued at approximately $9,877,044. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

About Home Depot, Inc. (The)

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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

Institutional Ownership by Quarter for Home Depot, Inc. (The) (NYSE:HD)

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