Peapack Gladstone Financial Corp Sells 2,866 Shares of The Home Depot, Inc. (NYSE:HD)

Peapack Gladstone Financial Corp lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 205,105 shares of the home improvement retailer’s stock after selling 2,866 shares during the period. Home Depot makes up approximately 1.2% of Peapack Gladstone Financial Corp’s holdings, 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 quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Abacus Wealth Partners LLC grew its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares during the period. Insight Inv LLC grew its stake in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares during the last quarter. Capital City Trust Co. FL increased its position in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. Finally, Acorn Creek Capital LLC lifted its stake in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value 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 $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

NYSE:HD opened at $414.45 on Friday. The firm’s fifty day simple moving average is $411.62 and its 200 day simple moving average is $377.35. The firm has a market capitalization of $411.70 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.93 and a beta of 1.03. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the previous year, the company posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on HD. Evercore ISI lifted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial boosted their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Mizuho upped their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.