Peapack Gladstone Financial Corp Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Peapack Gladstone Financial Corp lessened its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,105 shares of the home improvement retailer’s stock after selling 2,866 shares during the quarter. Home Depot makes up approximately 1.2% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 13th biggest holding. Peapack Gladstone Financial Corp’s holdings in Home Depot were worth $83,107,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC bought a new stake in shares of Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter worth $33,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter worth $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the third quarter valued at $46,000. Finally, Denver PWM LLC bought a new position in Home Depot in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 1.6 %

Shares of NYSE HD opened at $414.45 on Friday. The stock has a market cap of $411.70 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a 50-day moving average of $411.62 and a 200 day moving average of $377.35.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.17%. Home Depot’s payout ratio is 61.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Truist Financial boosted their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

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.