Home Depot (NYSE:HD) Trading 0.2% Higher – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) were up 0.2% during trading on Tuesday . The stock traded as high as $393.17 and last traded at $393.17. Approximately 297,118 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,382,184 shares. The stock had previously closed at $392.45.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Royal Bank of Canada boosted their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. TD Cowen raised their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

The firm has a market cap of $393.51 billion, a P/E ratio of 26.91, a PEG ratio of 2.93 and a beta of 1.03. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock’s 50-day moving average is $409.09 and its 200 day moving average is $382.11.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the company earned $3.81 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Wulff Hansen & CO. grew its stake in shares of Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot during the third quarter worth about $336,231,000. FMR LLC raised its stake in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Home Depot by 79.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,172,647 shares of the home improvement retailer’s stock valued at $403,672,000 after purchasing an additional 519,039 shares during the period. Institutional investors and hedge funds own 70.86% 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.