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Home Depot Inc (NYSE:HD) Shares Sold by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL lessened its holdings in shares of Home Depot Inc (NYSE:HD) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 79,788 shares of the home improvement retailer’s stock after selling 793 shares during the period. Gofen & Glossberg LLC IL’s holdings in Home Depot were worth $22,158,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HD. Skandinaviska Enskilda Banken AB publ lifted its position in Home Depot by 1.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 326,905 shares of the home improvement retailer’s stock worth $61,036,000 after acquiring an additional 4,303 shares during the period. ETF Managers Group LLC grew its position in Home Depot by 11.4% in the 1st quarter. ETF Managers Group LLC now owns 1,448 shares of the home improvement retailer’s stock valued at $284,000 after buying an additional 148 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Home Depot in the 1st quarter valued at $111,444,000. Geode Capital Management LLC raised its position in Home Depot by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 16,956,982 shares of the home improvement retailer’s stock worth $3,160,862,000 after buying an additional 191,403 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in shares of Home Depot by 11.1% in the first quarter. Intact Investment Management Inc. now owns 52,900 shares of the home improvement retailer’s stock valued at $9,877,000 after acquiring an additional 5,300 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.

In related news, EVP William G. Lennie sold 13,199 shares of the stock in a transaction that occurred on Wednesday,

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Exane Derivatives Lowers Position in Home Depot Inc (NYSE:HD)

Exane Derivatives decreased its stake in Home Depot Inc (NYSE:HD) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461 shares of the home improvement retailer’s stock after selling 94 shares during the quarter. Exane Derivatives’ holdings in Home Depot were worth $128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Price Wealth LLC boosted its holdings in Home Depot by 138.5% in the 2nd quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock worth $31,000 after buying an additional 72 shares during the period. Selective Wealth Management Inc. raised its stake in Home Depot by 243.9% during the 2nd quarter. Selective Wealth Management Inc. now owns 141 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Evolution Wealth Advisors LLC lifted its holdings in Home Depot by 138.8% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 111 shares in the last quarter. NuWave Investment Management LLC bought a new position in Home Depot in the 2nd quarter worth approximately $57,000. Finally, Your Advocates Ltd. LLP raised its position in shares of Home Depot by 51.4% during the second quarter. Your Advocates Ltd. LLP now owns 221 shares of the home improvement retailer’s stock valued at $57,000 after buying an additional 75 shares during the last quarter. 69.00% of the stock is currently owned by hedge funds and other institutional investors.

In other Home Depot news, EVP Teresa Wynn Roseborough sold 41,947 shares of the

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Attractive entry point called out on Home Depot by Wells Fargo (NYSE:HD)

Wells Fargo reports back on virtual investor meetings held with Home Depot (NYSE:HD) CFO Richard McPhail and other execs.

The firm says the talks reinforced its view that recent tailwinds appear sustainable, 1H margin headwinds can improve, and outsized share gains can continue via enhanced Pro offerings, category initiatives and expanding supply chain capabilities.

“With sustainability questions and tough FY21 compares entering the narrative, we continue to view the home improvement category among the highest quality in retail, and with HD shares – 10% off recent highs (-7% SPX), we see an attractive entry point. In our view, recent share gains can accelerate (vs. fragmented, underinvested competition), macro/housing remains robust (turnover, rates, etc.), and de-urbanization and wallet share shifts remain incremental.”

For investors, the math still works out for snapping up shares, per the WF analyst team.

“At 22x, we see an entry point. HD’s NTM P/E shed 2.5x turns since late August, and relative to the S&P, HD now trades 1.3 standard deviations below its historical mean.”

Home Depot is rated at Outperform by WF and tagged with a price target of $310 vs. the average Wall Street price target of $303.65.

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