Pacific Wealth Strategies Group Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Pacific Wealth Strategies Group Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,707 shares of the home improvement retailer’s stock after selling 182 shares during the quarter. Home Depot comprises approximately 1.5% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 17th largest position. Pacific Wealth Strategies Group Inc.’s holdings in Home Depot were worth $1,805,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HD. Cape Investment Advisory Inc. raised its stake in Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares in the last quarter. Optas LLC raised its position in Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the period. STAR Financial Bank lifted its stake in shares of Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC increased its position in shares of Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its position in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.5 %

Shares of HD stock traded up $5.02 on Monday, hitting $339.60. 2,984,350 shares of the stock traded hands, compared to its average volume of 3,442,896. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a market capitalization of $336.75 billion, a PE ratio of 22.78, a PEG ratio of 2.31 and a beta of 0.98. The firm’s 50-day moving average price is $338.52 and its two-hundred day moving average price is $352.15. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the company earned $3.82 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HD. TD Cowen reduced their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Tuesday, May 14th. UBS Group reduced their target price on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Insider Activity

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Home Depot Profile

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.