Frontier Wealth Management Lowers stake in Home Depot Inc (HD)

Home Depot Inc (HD) : Frontier Wealth Management reduced its stake in Home Depot Inc by 5.58% during the most recent quarter end. The investment management company now holds a total of 31,894 shares of Home Depot Inc which is valued at $4,355,764 after selling 1,884 shares in Home Depot Inc , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Home Depot Inc makes up approximately 0.62% of Frontier Wealth Management’s portfolio.

Other Hedge Funds, Including , Fayez Sarofim Co reduced its stake in HD by selling 33,554 shares or 11.15% in the most recent quarter. The Hedge Fund company now holds 267,499 shares of HD which is valued at $36,532,338. Home Depot Inc makes up approx 0.20% of Fayez Sarofim Co’s portfolio.Patriot Wealth Management boosted its stake in HD in the latest quarter, The investment management firm added 1,781 additional shares and now holds a total of 58,453 shares of Home Depot Inc which is valued at $7,967,728. Home Depot Inc makes up approx 1.53% of Patriot Wealth Management’s portfolio. Quantres Asset Management Ltd added HD to its portfolio by purchasing 2,000 company shares during the most recent quarter which is valued at $273,040. Home Depot Inc makes up approx 0.16% of Quantres Asset Management Ltd’s portfolio. Hexavest sold out all of its stake in HD during the most recent quarter. The investment firm sold 234 shares of HD which is valued $31,904.

Home Depot Inc opened for trading at $134.42 and hit $135.76 on the upside on Friday, eventually ending the session at $135.46, with a gain of 0.49% or 0.66 points. The heightened volatility saw the trading volume jump to 39,59,011 shares. Company has a market cap of $168,513 M.

On the company’s financial health, Home Depot Inc reported $1.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 16, 2016. Analyst had a consensus of $1.97. The company had revenue of $26472.00 million for the quarter, compared to analysts expectations of $26489.16 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS.

Many Wall Street Analysts have commented on Home Depot Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 155 from a previous price target of $150 .Company shares were Reiterated by Wedbush on Aug 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 145 from a previous price target of $140 .Stifel Resumed Home Depot Inc on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $157.

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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