Pettee Investors Inc. Boosts Stock Position in Home Depot Inc (NYSE:HD)

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Pettee Investors Inc. lifted its position in Home Depot Inc (NYSE:HD) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,628 shares of the home improvement retailer’s stock after buying an additional 450 shares during the quarter. Home Depot makes up 1.4% of Pettee Investors Inc.’s investment portfolio, making the stock its 18th largest holding. Pettee Investors Inc.’s holdings in Home Depot were worth $2,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its holdings in Home Depot by 8,331.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after purchasing an additional 21,212,570 shares during the period. Thoroughbred Financial Services LLC increased its holdings in Home Depot by 21,191.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,534,097 shares of the home improvement retailer’s stock worth $353,410,000 after purchasing an additional 3,517,498 shares during the period. AMF Pensionsforsakring AB purchased a new stake in Home Depot during the 2nd quarter worth about $197,884,000. Boston Partners purchased a new stake in Home Depot during the 4th quarter worth about $147,976,000. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Home Depot by 226.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 604,165 shares of the home improvement retailer’s stock worth $90,808,000 after purchasing an additional 419,034 shares during the period. Hedge funds and other institutional investors own 69.35% of the company’s stock.

HD has been the topic of several recent research reports. UBS Group upped their price target on Home Depot from $215.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus upped their price target on Home Depot to $230.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley upped their price target on Home Depot from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Argus set a $240.00 price target on Home Depot and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Loop Capital upped their price target on Home Depot to $200.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $220.11.

Shares of NYSE:HD traded down $0.47 on Tuesday, hitting $218.18. 162,592 shares of the company’s stock were exchanged, compared to its average volume of 4,407,764. The firm’s 50-day moving average is $212.90 and its 200 day moving average is $200.04. The company has a market capitalization of $239.28 billion, a PE ratio of 22.06, a P/E/G ratio of 2.01 and a beta of 1.12. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $222.65.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.07 by $0.10. The business had revenue of $30.84 billion during the quarter, compared to analysts’ expectations of $30.98 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.05 EPS. Equities analysts predict that Home Depot Inc will post 10.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a dividend of $1.36 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.49%. Home Depot’s dividend payout ratio is currently 55.01%.

In related news, EVP Matt Carey sold 34,688 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $202.09, for a total value of $7,010,097.92. Following the completion of the sale, the executive vice president now directly owns 81,982 shares of the company’s stock, valued at approximately $16,567,742.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Carol B. Tome sold 26,334 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $189.17, for a total value of $4,981,602.78. Following the completion of the sale, the chief financial officer now directly owns 519,253 shares of the company’s stock, valued at $98,227,090.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,622 shares of company stock valued at $45,864,577. Insiders own 0.27% of the company’s stock.

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 décor 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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