Congress Asset Management Co Lowers stake in Home Depot Inc (HD)

Home Depot Inc (HD) : Congress Asset Management Co reduced its stake in Home Depot Inc by 3.53% during the most recent quarter end. The investment management company now holds a total of 536,343 shares of Home Depot Inc which is valued at $68,474,911 after selling 19,631 shares in Home Depot Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Home Depot Inc makes up approximately 1.51% of Congress Asset Management Co’s portfolio.

Other Hedge Funds, Including , Checchi Capital Advisers reduced its stake in HD by selling 151 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 21,049 shares of HD which is valued at $2,715,952. Home Depot Inc makes up approx 0.81% of Checchi Capital Advisers’s portfolio.Argent Trust Co reduced its stake in HD by selling 1,056 shares or 8.81% in the most recent quarter. The Hedge Fund company now holds 10,928 shares of HD which is valued at $1,377,147. Home Depot Inc makes up approx 0.42% of Argent Trust Co’s portfolio.Novare Capital Management boosted its stake in HD in the latest quarter, The investment management firm added 2,039 additional shares and now holds a total of 33,932 shares of Home Depot Inc which is valued at $4,102,718. Home Depot Inc makes up approx 1.12% of Novare Capital Management’s portfolio.Dupont Capital Management Corp boosted its stake in HD in the latest quarter, The investment management firm added 10,671 additional shares and now holds a total of 144,004 shares of Home Depot Inc which is valued at $17,322,241. Home Depot Inc makes up approx 0.40% of Dupont Capital Management Corp’s portfolio.

Home Depot Inc closed down -0.6 points or -0.47% at $128.33 with 44,28,888 shares getting traded on Monday. Post opening the session at $128.93, the shares hit an intraday low of $127.72 and an intraday high of $129.36 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Home Depot Inc reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 15, 2016. Analyst had a consensus of $1.58. The company had revenue of $23154.00 million for the quarter, compared to analysts expectations of $23049.85 million. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS.

Investors should note that on Nov 17, 2016, Home Depot Inc announced a cash dividend of $0.6900. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on Home Depot Inc. Company shares were Reiterated by RBC Capital Mkts on Nov 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 146 from a previous price target of $145 .Home Depot Inc was Downgraded by Piper Jaffray to ” Neutral” on Oct 31, 2016. 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 .

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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