PNC Financial Services Group Inc. Sells 16,980 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Home Depot by 0.5%, selling 16,980 shares, and now owns around 3.14 million shares valued at approximately $1.15 billion.
• Home Depot reported quarterly earnings of $3.56 per share, missing expectations slightly but showing a revenue increase of 9.4% year-over-year to $39.86 billion.
• The company declared a quarterly dividend of $2.30 per share, with an annualized yield of 2.5%, and a payout ratio of 62.42% as of the latest report.

PNC Financial Services Group Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,142,405 shares of the home improvement retailer's stock after selling 16,980 shares during the quarter. Home Depot comprises about 0.6% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 19th biggest position. PNC Financial Services Group Inc. owned about 0.32% of Home Depot worth $1,151,660,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HD. Brighton Jones LLC increased its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares during the last quarter. Trexquant Investment LP bought a new stake in Home Depot during the fourth quarter worth approximately $6,671,000. Annis Gardner Whiting Capital Advisors LLC increased its stake in Home Depot by 2.9% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,613 shares of the home improvement retailer's stock worth $1,017,000 after acquiring an additional 73 shares during the last quarter. Finally, Yoffe Investment Management LLC bought a new stake in Home Depot during the fourth quarter worth approximately $1,090,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 1.6%

Shares of NYSE HD opened at $373.55 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The firm has a market capitalization of $371.66 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 3.49 and a beta of 1.00. The stock has a 50 day moving average price of $365.84 and a 200 day moving average price of $373.39. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

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

Home Depot Dividend Announcement

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Company 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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