Profit Investment Management Lowers stake in Home Depot Inc (HD)

Home Depot Inc (HD) : Profit Investment Management reduced its stake in Home Depot Inc by 40.31% during the most recent quarter end. The investment management company now holds a total of 46,067 shares of Home Depot Inc which is valued at $6,249,449 after selling 31,112 shares in Home Depot Inc , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Home Depot Inc makes up approximately 2.62% of Profit Investment Management’s portfolio.

Home Depot Inc opened for trading at $134.85 and hit $135.68 on the upside on Friday, eventually ending the session at $135.66, with a gain of 0.79% or 1.06 points. The heightened volatility saw the trading volume jump to 41,80,910 shares. Company has a market cap of $169,975 M.

Other Hedge Funds, Including , Atria Investments boosted its stake in HD in the latest quarter, The investment management firm added 342 additional shares and now holds a total of 8,199 shares of Home Depot Inc which is valued at $1,112,276. Home Depot Inc makes up approx 0.12% of Atria Investments’s portfolio. Donald L. Hagan added HD to its portfolio by purchasing 535 company shares during the most recent quarter which is valued at $72,230. Home Depot Inc makes up approx 0.07% of Donald L. Hagan’s portfolio.Independent Portfolio Consultants reduced its stake in HD by selling 470 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 14,909 shares of HD which is valued at $2,012,864. Home Depot Inc makes up approx 0.56% of Independent Portfolio Consultants’s portfolio.

On the company’s financial health, Home Depot Inc reported $1.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $1.10. The company had revenue of $20980.00 million for the quarter, compared to analysts expectations of $20396.59 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

Many Wall Street Analysts have commented on Home Depot Inc. Barclays Initiated Home Depot Inc on Mar 31, 2016 to “Overweight”, Price Target of the shares are set at $150.Home Depot Inc was Upgraded by Deutsche Bank to ” Buy” on Jan 25, 2016.

The Home Depot Inc. (The Home Depot) is a home improvement retailer. The Home Depot stores sell an assortment of building materials home improvement products and lawn and garden products and provide services. The Home Depot stores average approximately 104000 square feet of enclosed space with approximately 24000 additional square feet of outside garden area. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers do-it-for-me (DIFM) customers and professional customers. As of December 31 2014 the Company had 2269 The Home Depot stores which included 1977 stores in the United States including the Commonwealth of Puerto Rico and the territories of the United States Virgin Islands and Guam; 181 stores in Canada and 111 stores in Mexico.

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