Home Depot (NYSE:HD) Trading Up 0.3% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) was up 0.3% during trading on Friday . The company traded as high as $429.95 and last traded at $428.68. Approximately 612,695 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,380,269 shares. The stock had previously closed at $427.19.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. Evercore ISI increased their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Melius Research started coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Up 0.5 %

The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business has a 50 day moving average of $407.48 and a 200-day moving average of $372.03. The stock has a market cap of $426.28 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.97 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter valued at about $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the third quarter worth about $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter worth about $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

About Home Depot

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.