Zacks Investment Management Has Increased Position in Home Depot (HD) by $7.30 Million as Market Value Declined; As Western Digital (WDC) Stock Value Rose, Holder Orca Investment Management Lowered Position by $2.41 Million

May 22, 2018 - By Peter Mason

Western Digital Corporation (NASDAQ:WDC) Logo

Orca Investment Management Llc decreased its stake in Western Digital Corp (WDC) by 52.31% based on its latest 2017Q4 regulatory filing with the SEC. Orca Investment Management Llc sold 30,553 shares as the company’s stock rose 14.25% while stock markets declined. The institutional investor held 27,852 shares of the electronic components company at the end of 2017Q4, valued at $2.22 million, down from 58,405 at the end of the previous reported quarter. Orca Investment Management Llc who had been investing in Western Digital Corp for a number of months, seems to be less bullish one the $25.89B market cap company. The stock increased 2.10% or $1.78 during the last trading session, reaching $86.53. About 3.55M shares traded. Western Digital Corporation (NASDAQ:WDC) has risen 17.32% since May 22, 2017 and is uptrending. It has outperformed by 5.77% the S&P500.

Zacks Investment Management increased its stake in Home Depot Inc (HD) by 7.23% based on its latest 2017Q4 regulatory filing with the SEC. Zacks Investment Management bought 38,600 shares as the company’s stock declined 7.15% with the market. The institutional investor held 572,149 shares of the consumer services company at the end of 2017Q4, valued at $108.44 million, up from 533,549 at the end of the previous reported quarter. Zacks Investment Management who had been investing in Home Depot Inc for a number of months, seems to be bullish on the $218.78B market cap company. The stock increased 1.26% or $2.37 during the last trading session, reaching $189.79. About 4.15 million shares traded. The Home Depot, Inc. (NYSE:HD) has risen 18.94% since May 22, 2017 and is uptrending. It has outperformed by 7.39% the S&P500.

Among 38 analysts covering Western Digital (NASDAQ:WDC), 27 have Buy rating, 1 Sell and 10 Hold. Therefore 71% are positive. Western Digital had 175 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was initiated by BTIG Research with “Buy” on Tuesday, April 26. The stock has “Buy” rating by Stifel Nicolaus on Thursday, January 26. Mizuho maintained Western Digital Corporation (NASDAQ:WDC) rating on Thursday, September 8. Mizuho has “Buy” rating and $60 target. The rating was maintained by Mizuho with “Buy” on Sunday, July 30. The rating was downgraded by Robert W. Baird to “Neutral” on Friday, April 29. KeyBanc Capital Markets maintained the shares of WDC in report on Thursday, October 26 with “Hold” rating. The stock of Western Digital Corporation (NASDAQ:WDC) has “Buy” rating given on Tuesday, September 29 by Sterne Agee CRT. The stock of Western Digital Corporation (NASDAQ:WDC) has “Outperform” rating given on Friday, March 16 by Robert W. Baird. RBC Capital Markets maintained the stock with “Buy” rating in Friday, August 4 report. Barclays Capital maintained Western Digital Corporation (NASDAQ:WDC) on Friday, April 27 with “Overweight” rating.

More recent Western Digital Corporation (NASDAQ:WDC) news were published by: Nasdaq.com which released: “China Eases the Pressure on Qualcomm’s NXP Deal” on May 15, 2018. Also Investorplace.com published the news titled: “3 Stocks to Buy Before They Break Out” on May 14, 2018. Nasdaq.com‘s news article titled: “Western Digital Corp Stock May Be a Steal” with publication date: May 15, 2018 was also an interesting one.

Investors sentiment decreased to 1.07 in Q4 2017. Its down 0.05, from 1.12 in 2017Q3. It dropped, as 68 investors sold WDC shares while 219 reduced holdings. 82 funds opened positions while 224 raised stakes. 243.21 million shares or 1.21% more from 240.32 million shares in 2017Q3 were reported. Baystate Wealth Mgmt Limited Liability Co reported 0% of its portfolio in Western Digital Corporation (NASDAQ:WDC). State Bank Of The West holds 0.57% or 56,809 shares. First Western Capital holds 6,429 shares or 0.29% of its portfolio. Hudock Grp Limited Liability Co invested in 0.01% or 229 shares. Norinchukin National Bank & Trust The holds 24,190 shares. Sandy Spring Bank holds 0% in Western Digital Corporation (NASDAQ:WDC) or 65 shares. Sumitomo Mitsui Trust stated it has 989,525 shares. Suntrust Banks holds 0.01% or 23,129 shares. Covington Capital Mgmt owns 500 shares for 0% of their portfolio. Raymond James And Associates invested in 0.1% or 657,221 shares. Dnb Asset Management As owns 0.76% invested in Western Digital Corporation (NASDAQ:WDC) for 795,948 shares. Alpine Woods Cap Investors Ltd Liability, a New York-based fund reported 83,000 shares. Hourglass Cap Llc reported 3,000 shares. Moreover, Amica Mutual Insur has 0.11% invested in Western Digital Corporation (NASDAQ:WDC). British Columbia has invested 0.1% of its portfolio in Western Digital Corporation (NASDAQ:WDC).

Analysts await Western Digital Corporation (NASDAQ:WDC) to report earnings on July, 26. They expect $3.19 earnings per share, up 21.29% or $0.56 from last year’s $2.63 per share. WDC’s profit will be $954.57 million for 6.78 P/E if the $3.19 EPS becomes a reality. After $3.36 actual earnings per share reported by Western Digital Corporation for the previous quarter, Wall Street now forecasts -5.06% negative EPS growth.

Since January 29, 2018, it had 0 insider buys, and 14 sales for $26.76 million activity. Another trade for 7,026 shares valued at $693,064 was sold by LONG MARK P. The insider RAY MICHAEL CHARLES sold 1,208 shares worth $106,944. MILLIGAN STEPHEN D had sold 16,511 shares worth $1.39M on Monday, February 5. Sivaram Srinivasan sold $942,109 worth of stock or 10,865 shares.

Zacks Investment Management, which manages about $3.45 billion and $4.59 billion US Long portfolio, decreased its stake in Kimberly Clark Corp (NYSE:KMB) by 310,286 shares to 7,486 shares, valued at $903,000 in 2017Q4, according to the filing. It also reduced its holding in Equity Lifestyle Pptys Inc (NYSE:ELS) by 55,783 shares in the quarter, leaving it with 20,446 shares, and cut its stake in Guidewire Software Inc (NYSE:GWRE).

Since December 7, 2017, it had 2 buys, and 5 selling transactions for $36.57 million activity. The insider CODINA ARMANDO M bought 6,650 shares worth $1.19M. 37,680 shares were sold by Campbell Ann Marie, worth $7.02 million. Shares for $1.97M were sold by Roseborough Teresa Wynn on Thursday, December 7. Shares for $7.58 million were sold by Carey Matt. 16,827 shares were bought by BRENNEMAN GREGORY D, worth $3.00M on Wednesday, March 21. Decker Edward P. had sold 17,660 shares worth $3.31 million on Tuesday, February 27.

More notable recent The Home Depot, Inc. (NYSE:HD) news were published by: Seekingalpha.com which released: “Home Depot: With Expected 28% EPS Growth In FY18, Mr. Market Is Short-Sighted” on May 21, 2018, also Fool.com with their article: “Is Home Depot, Inc. (HD) a Buy?” published on May 01, 2018, Seekingalpha.com published: “Home Depot’s (HD) CEO Craig Menear Hosts 2018 Annual Shareholder Meeting (Transcript)” on May 17, 2018. More interesting news about The Home Depot, Inc. (NYSE:HD) were released by: Forbes.com and their article: “Can Online Sales Drive Growth For Home Depot In The First Quarter?” published on May 11, 2018 as well as Bizjournals.com‘s news article titled: “Coca-Cola among Georgia companies to dip on Fortune 500 list (Slideshow)” with publication date: May 21, 2018.

The Home Depot, Inc. (NYSE:HD) Institutional Positions Chart

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By1 Peter Mason

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