Peapack Gladstone Financial Corp Purchases 3,904 Shares of Home Depot Inc (HD)

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Peapack Gladstone Financial Corp increased its position in shares of Home Depot Inc (NYSE:HD) by 2.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 152,766 shares of the home improvement retailer’s stock after buying an additional 3,904 shares during the quarter. Home Depot comprises about 1.6% of Peapack Gladstone Financial Corp’s portfolio, making the stock its 15th largest holding. Peapack Gladstone Financial Corp’s holdings in Home Depot were worth $29,805,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC increased its stake in Home Depot by 17,627.8% in the first quarter. Summit Trail Advisors LLC now owns 2,233,171 shares of the home improvement retailer’s stock valued at $2,233,000 after purchasing an additional 2,220,574 shares during the last quarter. Natixis increased its stake in Home Depot by 153.0% in the first quarter. Natixis now owns 1,064,144 shares of the home improvement retailer’s stock valued at $189,673,000 after purchasing an additional 643,600 shares during the last quarter. BlackRock Inc. increased its stake in Home Depot by 0.8% in the first quarter. BlackRock Inc. now owns 72,237,480 shares of the home improvement retailer’s stock valued at $12,875,610,000 after purchasing an additional 604,634 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in Home Depot by 19,557.4% in the second quarter. Cornerstone Wealth Management LLC now owns 590,509 shares of the home improvement retailer’s stock valued at $3,042,000 after purchasing an additional 587,505 shares during the last quarter. Finally, ING Groep NV increased its stake in Home Depot by 174.8% in the first quarter. ING Groep NV now owns 548,903 shares of the home improvement retailer’s stock valued at $97,836,000 after purchasing an additional 349,182 shares during the last quarter. Hedge funds and other institutional investors own 69.24% of the company’s stock.

Shares of HD opened at $176.24 on Wednesday. The company has a debt-to-equity ratio of 11.60, a quick ratio of 0.37 and a current ratio of 1.13. The company has a market cap of $197.05 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.36 and a beta of 1.11. Home Depot Inc has a 12-month low of $160.53 and a 12-month high of $215.43.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.21. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The firm had revenue of $30.46 billion during the quarter, compared to the consensus estimate of $30.04 billion. During the same period last year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts anticipate that Home Depot Inc will post 9.58 earnings per share for the current year.

In related news, EVP William G. Lennie sold 10,854 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the completion of the sale, the executive vice president now directly owns 40,057 shares of the company’s stock, valued at $8,077,093.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matt Carey sold 4,125 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total value of $806,148.75. Following the sale, the executive vice president now directly owns 60,179 shares of the company’s stock, valued at $11,760,781.97. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Several brokerages have commented on HD. Wells Fargo & Co reiterated a “buy” rating and issued a $230.00 price target on shares of Home Depot in a research note on Sunday, September 16th. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, August 21st. They issued a “buy” rating and a $228.00 price target on the stock. Citigroup increased their price target on shares of Home Depot from $205.00 to $220.00 and gave the company a “positive” rating in a research note on Friday, August 10th. Finally, Loop Capital set a $200.00 price target on shares of Home Depot and gave the company a “hold” rating in a research note on Wednesday, July 11th. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $205.28.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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