Pettee Investors Inc. Sells 2,019 Shares of The Home Depot, Inc. (NYSE:HD)

Pettee Investors Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 21.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,279 shares of the home improvement retailer’s stock after selling 2,019 shares during the period. Home Depot accounts for 1.6% of Pettee Investors Inc.’s portfolio, making the stock its 18th largest position. Pettee Investors Inc.’s holdings in Home Depot were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Asset Advisors Investment Management LLC increased its stake in shares of Home Depot by 1.5% during the first quarter. Asset Advisors Investment Management LLC now owns 19,446 shares of the home improvement retailer’s stock valued at $7,127,000 after purchasing an additional 281 shares in the last quarter. Bailard Inc. increased its stake in shares of Home Depot by 3.1% during the first quarter. Bailard Inc. now owns 89,496 shares of the home improvement retailer’s stock valued at $32,799,000 after purchasing an additional 2,654 shares in the last quarter. Archvest Wealth Advisors Inc. increased its stake in shares of Home Depot by 27.6% during the first quarter. Archvest Wealth Advisors Inc. now owns 1,147 shares of the home improvement retailer’s stock valued at $420,000 after purchasing an additional 248 shares in the last quarter. Woodward Diversified Capital LLC increased its stake in shares of Home Depot by 5.2% during the first quarter. Woodward Diversified Capital LLC now owns 3,207 shares of the home improvement retailer’s stock valued at $1,175,000 after purchasing an additional 159 shares in the last quarter. Finally, Dynasty Wealth Management LLC grew its holdings in shares of Home Depot by 2.6% during the first quarter. Dynasty Wealth Management LLC now owns 5,326 shares of the home improvement retailer’s stock valued at $1,952,000 after buying an additional 136 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.4%

Shares of HD stock opened at $357.22 on Thursday. The company has a market capitalization of $355.40 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 3.41 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company’s fifty day moving average price is $366.20 and its 200-day moving average price is $374.90. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate 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 business earned $3.63 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.58%. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Monday, June 30th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.