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

Peapack Gladstone Financial Corp decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,536 shares of the home improvement retailer’s stock after selling 2,569 shares during the period. Home Depot makes up 1.1% of Peapack Gladstone Financial Corp’s investment portfolio, making the stock its 16th largest holding. Peapack Gladstone Financial Corp’s holdings in Home Depot were worth $78,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Vanguard Group Inc. lifted its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC increased its stake in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Norges Bank purchased a new position in Home Depot during the 4th quarter valued at about $5,032,910,000. Fisher Asset Management LLC boosted its stake in Home Depot by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after acquiring an additional 125,441 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Home Depot by 5.5% in the fourth quarter. Alliancebernstein L.P. now owns 9,052,091 shares of the home improvement retailer’s stock worth $3,521,173,000 after purchasing an additional 468,203 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.6 %

Shares of HD stock opened at $353.78 on Friday. The stock has a fifty day simple moving average of $384.89 and a two-hundred day simple moving average of $398.25. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market capitalization of $351.67 billion, a PE ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter last year, the company earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Guggenheim reissued a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Gordon Haskett cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $435.85.

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.