State Treasurer State of Michigan lowered its stake in Home Depot Inc (NYSE:HD) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 892,028 shares of the home improvement retailer’s stock after selling 26,800 shares during the period. Home Depot accounts for approximately 1.4% of State Treasurer State of Michigan’s holdings, making the stock its 10th biggest holding. State Treasurer State of Michigan’s holdings in Home Depot were worth $153,268,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Capital International Investors increased its position in shares of Home Depot by 129.2% in the 3rd quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock worth $1,466,780,000 after purchasing an additional 3,991,462 shares during the last quarter. Packer & Co Ltd boosted its holdings in shares of Home Depot by 441.9% in the 4th quarter. Packer & Co Ltd now owns 1,239,800 shares of the home improvement retailer’s stock valued at $39,312,000 after buying an additional 1,011,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Home Depot by 282.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,281,506 shares of the home improvement retailer’s stock valued at $265,464,000 after buying an additional 946,206 shares during the period. FMR LLC boosted its holdings in shares of Home Depot by 2.8% in the 3rd quarter. FMR LLC now owns 29,811,794 shares of the home improvement retailer’s stock valued at $6,175,512,000 after buying an additional 813,882 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Home Depot by 151.6% in the 3rd quarter. SG Americas Securities LLC now owns 147,955 shares of the home improvement retailer’s stock valued at $30,649,000 after buying an additional 434,426 shares during the period. 71.01% of the stock is owned by institutional investors.
Home Depot stock opened at $199.63 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. The stock has a market cap of $221.40 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.74 and a beta of 1.09. Home Depot Inc has a 52-week low of $158.09 and a 52-week high of $215.43.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.09. The firm had revenue of $26.49 billion during the quarter, compared to analyst estimates of $26.57 billion. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. Home Depot’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.69 EPS. Equities analysts forecast that Home Depot Inc will post 10.09 EPS for the current fiscal year.
Home Depot declared that its board has initiated a share repurchase plan on Tuesday, February 26th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
HD has been the subject of several research reports. Edward Jones raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $192.00 price target on shares of Home Depot in a report on Wednesday, May 1st. Robert W. Baird reaffirmed a “positive” rating on shares of Home Depot in a report on Thursday, April 25th. Finally, Citigroup decreased their price target on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $204.18.
In other Home Depot news, EVP Ann Marie Campbell sold 5,450 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the completion of the transaction, the executive vice president now directly owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward P. Decker sold 23,744 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the transaction, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at $15,880,702.09. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $7,553,141 over the last three months. 0.27% of the stock is currently owned by company insiders.
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Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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