Gateway Investment Advisers LLC Decreased Stake in Home Depot INC (NYSE:HD) by $9.43 Million as Shares Rose


Gateway Investment Advisers Llc decreased its stake in Home Depot Inc (NYSE:HD) by 6.67% based on its latest 2016Q2 regulatory filing with the SEC. Gateway Investment Advisers Llc sold 70,888 shares as the company’s stock rose 1.80% with the market. The institutional investor held 992,497 shares of the consumer services company at the end of 2016Q2, valued at $132.43M, down from 1.06 million at the end of the previous reported quarter. Gateway Investment Advisers Llc who had been investing in Home Depot Inc for a number of months, seems to be less bullish one the $156.86B market cap company. The stock is down 1.93% or $2.48 after the negative news, hitting $126.11 per share. About 4.45 million shares traded hands or 5.45% up from the average. Home Depot Inc (NYSE:HD) has risen 14.97% since February 8, 2016 and is uptrending. It has underperformed by 1.52% the S&P500.

Gateway Investment Advisers Llc, which manages about $12.58 billion and $11.54B US Long portfolio, upped its stake in Foot Locker Inc (NYSE:FL) by 54,442 shares to 282,489 shares, valued at $18.22 million in 2016Q2, according to the filing. It also increased its holding in Ashland Inc New (NYSE:ASH) by 34,198 shares in the quarter, for a total of 144,371 shares, and has risen its stake in Td Ameritrade Hldg Corp (NYSE:AMTD).

Gateway Investment Advisers Llc is a Ohio-based institutional investor with more than $12.58 billion AUM in June, 2014. Taken from Gateway Investment Advisers latest Adv, the fund reported to have 20 full and part-time employees. Among which 5 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment increased to 0.92 in 2016 Q2. Its up 0.05, from 0.87 in 2016Q1. The ratio is positive, as 63 funds sold all HD shares owned while 638 reduced positions. 103 funds bought stakes while 543 increased positions. They now own 870.00 million shares or 6.34% less from 928.89 million shares in 2016Q1.

Independence Trust Co holds 7.89% of its portfolio in HD for 40,211 shares. Crystal Rock Capital Management owns 77,551 shares or 7.33% of their US portfolio. Moreover, Shellback Capital Lp has 7.12% invested in the company for 435,000 shares. The Denmark-based Cam Group Holding A S has invested 6.88% in the stock. Nine Chapters Capital Management Llc, a New Jersey-based fund reported 2,500 shares.

Out of 17 analysts covering Home Depot (NYSE:HD), 14 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 82% are positive. Home Depot has been the topic of 25 analyst reports since November 18, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock on May 13 with “Buy” rating.

The Home Depot, Inc. is a home improvement retailer. The company has a market cap of $156.86 billion. The Firm sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. It has a 21.27 P/E ratio. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) clients and professional customers.

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