Home Depot (NYSE:HD) Trading Up 0.2% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s stock price was up 0.2% during mid-day trading on Wednesday . The stock traded as high as $385.10 and last traded at $384.89. Approximately 433,234 shares changed hands during trading, a decline of 80% from the average daily volume of 2,113,816 shares. The stock had previously closed at $384.23.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HD. Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Bank of America upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and increased their price target for the company from $360.00 to $455.00 in a report on Friday, November 8th. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Truist Financial boosted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.8 %

The stock has a market capitalization of $387.53 billion, a P/E ratio of 26.50, a PEG ratio of 2.90 and a beta of 1.05. 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 firm’s 50-day simple moving average is $406.15 and its 200 day simple moving average is $385.33.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’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 transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $40,258.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AdvisorShares Investments LLC bought a new position in shares of Home Depot in the second quarter worth $461,000. Linscomb Wealth Inc. increased its stake in Home Depot by 1.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 6,584 shares of the home improvement retailer’s stock valued at $2,267,000 after purchasing an additional 90 shares in the last quarter. American Century Companies Inc. lifted its stake in Home Depot by 9.8% during the 2nd quarter. American Century Companies Inc. now owns 928,603 shares of the home improvement retailer’s stock valued at $319,662,000 after acquiring an additional 82,740 shares during the period. Y.D. More Investments Ltd lifted its holdings in Home Depot by 18.0% in the second quarter. Y.D. More Investments Ltd now owns 975 shares of the home improvement retailer’s stock valued at $335,000 after acquiring an additional 149 shares during the period. Finally, Achmea Investment Management B.V. boosted its stake in shares of Home Depot by 2.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 125,101 shares of the home improvement retailer’s stock worth $43,065,000 after acquiring an additional 3,429 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.