Home Depot (NYSE:HD) Shares Up 0.4% – Here’s Why

The Home Depot, Inc. (NYSE:HD) rose 0.4% during trading on Wednesday . The company traded as high as $430.10 and last traded at $428.88. Approximately 504,813 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 3,384,596 shares. The stock had previously closed at $427.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HD shares. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen lifted 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. Finally, Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Down 0.0 %

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 company has a market capitalization of $424.35 billion, a P/E ratio of 29.02, a PEG ratio of 2.97 and a beta of 1.01. The company’s fifty day simple moving average is $406.69 and its 200-day simple moving average is $371.20.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred on 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 directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after buying an additional 433,126 shares during the period. Fisher Asset Management LLC increased its holdings in Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock valued at $3,819,679,000 after buying an additional 205,954 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. FMR LLC grew its position in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the period. Finally, Legal & General Group Plc raised its holdings in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 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.