Pettyjohn Wood & White Inc. Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Pettyjohn Wood & White Inc. has reduced its stake in The Home Depot by 3.4%, now holding 35,438 shares valued at approximately $12.99 million.
• Home Depot reported earnings per share of $3.56 for the quarter, missing estimates slightly, while revenue increased by 9.4% year-over-year, reaching $39.86 billion.
• Institutional investors and hedge funds collectively own 70.86% of Home Depot's stock, highlighting strong institutional interest in the retailer.

Pettyjohn Wood & White Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,438 shares of the home improvement retailer's stock after selling 1,263 shares during the quarter. Home Depot accounts for 2.5% of Pettyjohn Wood & White Inc.'s holdings, making the stock its 10th largest holding. Pettyjohn Wood & White Inc.'s holdings in Home Depot were worth $12,988,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV increased its position in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares in the last quarter. Capital Research Global Investors boosted its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the last quarter. Northern Trust Corp boosted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. GAMMA Investing LLC boosted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Home Depot by 5.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,472,212 shares of the home improvement retailer's stock valued at $3,295,606,000 after buying an additional 441,729 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Down 1.2%

Shares of NYSE HD opened at $367.62 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market cap of $365.76 billion, a price-to-earnings ratio of 24.94, a P/E/G ratio of 3.54 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The business has a fifty day simple moving average of $365.63 and a 200-day simple moving average of $373.53.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the prior year, the company posted $3.63 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot's dividend payout ratio is presently 62.42%.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Mizuho dropped their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Truist Financial lifted their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, Robert W. Baird reduced their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.

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