Pacer Advisors Inc. Lowers Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Pacer Advisors Inc. has reduced its stake in Home Depot by 36.4%, selling 29,187 shares during the first quarter.
• Home Depot reported $3.56 EPS for the last quarter, missing analysts' estimates by $0.03, although its revenue increased by 9.4% year-over-year.
• The company recently declared a quarterly dividend of $2.30 per share, reflecting a dividend yield of 2.45% and a payout ratio of 62.42%.

Pacer Advisors Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 36.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,105 shares of the home improvement retailer's stock after selling 29,187 shares during the period. Pacer Advisors Inc.'s holdings in Home Depot were worth $18,729,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new position in Home Depot in the 1st quarter worth about $406,000. Wealth Management Partners LLC boosted its stake in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its stake in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares in the last quarter. Disciplined Investors L.L.C. bought a new position in Home Depot in the 4th quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC boosted its stake in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

HD has been the topic of a number of analyst reports. Truist Financial upped their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. 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. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research note on Monday, June 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Trading Down 0.4%

HD traded down $1.58 during trading hours on Wednesday, reaching $375.77. 404,142 shares of the company's stock traded hands, compared to its average volume of 3,530,002. The firm has a market capitalization of $373.86 billion, a PE ratio of 25.47, a PEG ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. 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 firm has a 50-day moving average price of $365.56 and a 200 day moving average price of $373.69.

Home Depot (NYSE:HD - Get Free Report) last issued its 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 company had revenue of $39.86 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.63 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

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.