Home Depot, Inc. (The) (NYSE:HD) Position Reduced by State Treasurer State of Michigan

State Treasurer State of Michigan cut its stake in shares of Home Depot, Inc. (The) (NYSE:HD) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 1,192,128 shares of the home improvement retailer’s stock after selling 277,900 shares during the period. Home Depot, Inc. (The) accounts for about 1.4% of State Treasurer State of Michigan’s holdings, making the stock its 13th largest position. State Treasurer State of Michigan’s holdings in Home Depot, Inc. (The) were worth $182,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HD. Putnam Investments LLC boosted its stake in shares of Home Depot, Inc. (The) by 12.8% in the fourth quarter. Putnam Investments LLC now owns 2,596,938 shares of the home improvement retailer’s stock worth $348,197,000 after buying an additional 295,244 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Home Depot, Inc. (The) during the fourth quarter worth approximately $131,000. Jarislowsky Fraser Ltd boosted its stake in shares of Home Depot, Inc. (The) by 56.8% in the fourth quarter. Jarislowsky Fraser Ltd now owns 168,965 shares of the home improvement retailer’s stock worth $22,654,000 after buying an additional 61,213 shares during the period. Numeric Investors LLC boosted its stake in shares of Home Depot, Inc. (The) by 102.1% in the fourth quarter. Numeric Investors LLC now owns 175,200 shares of the home improvement retailer’s stock worth $23,491,000 after buying an additional 88,500 shares during the period. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Home Depot, Inc. (The) by 96.0% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,720,516 shares of the home improvement retailer’s stock worth $230,687,000 after buying an additional 842,499 shares during the period. Institutional investors and hedge funds own 71.52% of the company’s stock.

Home Depot, Inc. (HD) traded up 0.65% during midday trading on Friday, hitting $154.88. 3,650,541 shares of the stock traded hands. Home Depot, Inc. has a 12 month low of $119.20 and a 12 month high of $160.86. The company has a 50-day moving average of $151.33 and a 200-day moving average of $149.61. The stock has a market cap of $185.17 billion, a PE ratio of 23.18 and a beta of 1.08.

Home Depot, Inc. (The) (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.06. Home Depot, Inc. (The) had a return on equity of 158.80% and a net margin of 8.53%. The firm had revenue of $23.89 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same period last year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Home Depot, Inc. will post $7.25 earnings per share for the current year.

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A number of analysts have recently commented on the stock. Vetr cut shares of Home Depot, Inc. (The) from a “buy” rating to a “hold” rating and set a $164.09 target price on the stock. in a report on Monday, June 19th. Robert W. Baird set a $175.00 target price on shares of Home Depot, Inc. (The) and gave the company a “buy” rating in a report on Wednesday, May 17th. BMO Capital Markets set a $176.00 target price on shares of Home Depot, Inc. (The) and gave the company a “buy” rating in a report on Wednesday, May 17th. Stifel Nicolaus restated a “buy” rating and set a $178.00 target price (up previously from $165.00) on shares of Home Depot, Inc. (The) in a report on Wednesday, May 17th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $175.00 target price (up previously from $154.00) on shares of Home Depot, Inc. (The) in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $164.72.

In other news, CEO Craig A. Menear sold 90,661 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $156.79, for a total value of $14,214,738.19. Following the completion of the transaction, the chief executive officer now directly owns 240,090 shares in the company, valued at $37,643,711.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $156.56, for a total value of $1,095,920.00. Following the completion of the transaction, the executive vice president now owns 54,091 shares of the company’s stock, valued at $8,468,486.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,900 shares of company stock valued at $20,167,386. Company insiders own 0.26% of the company’s stock.

About Home Depot, Inc. (The)

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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Institutional Ownership by Quarter for Home Depot, Inc. (The) (NYSE:HD)

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