The Home Depot, Inc. (NYSE:HD) Stake Reduced by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,684 shares of the home improvement retailer’s stock after selling 8,100 shares during the period. Home Depot makes up 0.6% of State of Michigan Retirement System’s portfolio, making the stock its 26th biggest holding. State of Michigan Retirement System’s holdings in Home Depot were worth $116,110,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HD. Kelly Lawrence W & Associates Inc. CA boosted its position in shares of Home Depot by 1.0% in the 3rd quarter. Kelly Lawrence W & Associates Inc. CA now owns 36,759 shares of the home improvement retailer’s stock valued at $11,107,000 after purchasing an additional 350 shares during the period. JT Stratford LLC boosted its holdings in shares of Home Depot by 37.2% in the third quarter. JT Stratford LLC now owns 6,880 shares of the home improvement retailer’s stock worth $2,079,000 after buying an additional 1,866 shares during the period. Schroder Investment Management Group increased its position in shares of Home Depot by 11.5% in the third quarter. Schroder Investment Management Group now owns 1,008,390 shares of the home improvement retailer’s stock worth $304,695,000 after acquiring an additional 104,246 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in shares of Home Depot by 15.0% during the third quarter. Riggs Asset Managment Co. Inc. now owns 697 shares of the home improvement retailer’s stock valued at $211,000 after acquiring an additional 91 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in shares of Home Depot by 24.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 620,297 shares of the home improvement retailer’s stock valued at $187,358,000 after acquiring an additional 121,315 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

NYSE HD opened at $334.97 on Wednesday. The company’s fifty day moving average is $338.51 and its two-hundred day moving average is $352.69. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a market capitalization of $332.16 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.38 and a beta of 0.99.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the prior year, the firm posted $3.82 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. TD Cowen reduced their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, UBS Group decreased their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.