Home Depot (NYSE:HD) Shares Up 0.3% – What’s Next?

The Home Depot, Inc. (NYSE:HD) traded up 0.3% during trading on Wednesday . The company traded as high as $409.97 and last traded at $409.76. 499,056 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 3,359,299 shares. The stock had previously closed at $408.47.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Melius Research initiated coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Evercore ISI boosted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen raised their target price on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $382.46 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The stock has a 50 day moving average price of $410.78 and a 200-day moving average price of $379.92.

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, beating 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 company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.34%. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new stake in Home Depot in the 2nd quarter valued at approximately $40,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the third quarter valued at approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at approximately $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.