Corbenic Partners LLC Buys New Position in Home Depot Inc (NYSE:HD)

Corbenic Partners LLC bought a new stake in Home Depot Inc (NYSE:HD) during the fourth quarter, Holdings Channel.com reports. The fund bought 233 shares of the home improvement retailer’s stock, valued at approximately $51,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Enterprise Trust & Investment Co acquired a new stake in shares of Home Depot during the 3rd quarter valued at about $27,000. Julex Capital Management LLC bought a new stake in Home Depot in the third quarter valued at about $29,000. Proffitt & Goodson Inc. raised its position in Home Depot by 106.2% in the third quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after purchasing an additional 69 shares in the last quarter. Financial Advantage Inc. acquired a new position in Home Depot in the third quarter worth about $37,000. Finally, Atwater Malick LLC acquired a new position in Home Depot in the third quarter worth about $39,000. 69.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:HD traded up $1.51 during midday trading on Tuesday, reaching $224.85. The company’s stock had a trading volume of 163,923 shares, compared to its average volume of 4,303,189. The business’s fifty day simple moving average is $218.72 and its 200-day simple moving average is $222.06. Home Depot Inc has a fifty-two week low of $172.00 and a fifty-two week high of $239.31. The company has a market capitalization of $244.59 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.98 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 19th. The home improvement retailer reported $2.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.53. Home Depot had a net margin of 10.01% and a negative return on equity of 721.00%. The business had revenue of $27.22 billion for the quarter, compared to the consensus estimate of $27.51 billion. During the same quarter in the prior year, the company earned $2.51 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Equities analysts predict that Home Depot Inc will post 10.08 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $1.36 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.42%. Home Depot’s payout ratio is 55.01%.

In related news, EVP Teresa Wynn Roseborough sold 12,974 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $213.70, for a total value of $2,772,543.80. Following the transaction, the executive vice president now owns 26,335 shares in the company, valued at $5,627,789.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig A. Menear sold 113,468 shares of Home Depot stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $211.24, for a total value of $23,968,980.32. Following the completion of the sale, the chief executive officer now owns 277,604 shares of the company’s stock, valued at $58,641,068.96. The disclosure for this sale can be found here. Insiders have sold 126,552 shares of company stock worth $26,765,281 over the last quarter. 0.27% of the stock is owned by company insiders.

A number of research firms have weighed in on HD. Nomura decreased their price objective on Home Depot from $237.00 to $224.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Raymond James reissued an “outperform” rating and issued a $250.00 target price on shares of Home Depot in a report on Tuesday, October 8th. ValuEngine raised Home Depot from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Wells Fargo & Co reissued a “buy” rating and issued a $260.00 target price on shares of Home Depot in a report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their target price on Home Depot from $246.00 to $268.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have given a buy rating to the company. Home Depot currently has a consensus rating of “Buy” and an average price target of $237.31.

Home Depot Company 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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