Home Depot (NYSE:HD) Trading Up 1.1% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) traded up 1.1% during mid-day trading on Friday . The company traded as high as $416.79 and last traded at $415.10. 618,168 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,376,271 shares. The stock had previously closed at $410.45.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Piper Sandler raised their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 2.3 %

The firm’s 50-day simple moving average is $403.23 and its 200 day simple moving average is $369.04. The firm has a market capitalization of $417.21 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.85 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 business 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 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, 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. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 in the last quarter. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

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

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.