State of Michigan Retirement System Purchases 211,528 Shares of Home Depot Inc (NYSE:HD)

State of Michigan Retirement System lifted its position in shares of Home Depot Inc (NYSE:HD) by 57.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 581,556 shares of the home improvement retailer’s stock after buying an additional 211,528 shares during the quarter. Home Depot makes up 1.3% of State of Michigan Retirement System’s holdings, making the stock its 11th largest holding. State of Michigan Retirement System owned about 0.05% of Home Depot worth $145,686,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Duality Advisers LP bought a new position in shares of Home Depot during the second quarter valued at approximately $1,544,000. Everett Harris & Co. CA raised its position in shares of Home Depot by 14.0% in the 2nd quarter. Everett Harris & Co. CA now owns 66,516 shares of the home improvement retailer’s stock worth $16,663,000 after acquiring an additional 8,167 shares in the last quarter. Silversage Advisors purchased a new stake in shares of Home Depot during the 2nd quarter worth $225,000. Schmidt P J Investment Management Inc. boosted its position in Home Depot by 0.3% during the second quarter. Schmidt P J Investment Management Inc. now owns 20,976 shares of the home improvement retailer’s stock valued at $5,255,000 after purchasing an additional 65 shares in the last quarter. Finally, Tompkins Financial Corp boosted its position in Home Depot by 2.1% during the second quarter. Tompkins Financial Corp now owns 28,738 shares of the home improvement retailer’s stock valued at $7,199,000 after purchasing an additional 587 shares in the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

Home Depot stock opened at $265.49 on Friday. Home Depot Inc has a 52 week low of $140.63 and a 52 week high of $269.07. The firm has a market cap of $285.54 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.31 and a beta of 1.06. The business’s 50-day moving average price is $252.21 and its 200 day moving average price is $229.53.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The firm had revenue of $28.26 billion for the quarter, compared to analyst estimates of $27.59 billion. During the same period in the previous year, the business earned $2.27 EPS. Home Depot’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Home Depot Inc will post 10.09 earnings per share for the current fiscal year.

In other Home Depot news, EVP William G. Lennie sold 17,993 shares of Home Depot stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total value of $4,246,707.86. Following the completion of the transaction, the executive vice president now owns 54,405 shares of the company’s stock, valued at $12,840,668.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

Several research firms have commented on HD. Stifel Nicolaus increased their price target on shares of Home Depot from $260.00 to $276.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Bank of America raised their target price on shares of Home Depot from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. SunTrust Banks reduced their price target on Home Depot from $240.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, April 16th. Oppenheimer began coverage on Home Depot in a research report on Friday, July 10th. They issued a “buy” rating and a $274.00 price objective for the company. Finally, Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $261.00 target price on the stock in a research report on Monday, June 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Home Depot presently has an average rating of “Buy” and a consensus price target of $256.30.

Home Depot 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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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