Home Depot (NYSE:HD) Stock Price Up 0.4% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price rose 0.4% during mid-day trading on Thursday . The company traded as high as $411.57 and last traded at $411.58. Approximately 753,354 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,081,694 shares. The stock had previously closed at $410.10.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Guggenheim lifted their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Bank of America lifted their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.7 %

The firm has a market capitalization of $410.41 billion, a PE ratio of 28.07, a P/E/G ratio of 4.41 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business’s fifty day moving average price is $406.83 and its 200 day moving average price is $389.47.

Home Depot (NYSE:HD) last released its earnings results 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the firm earned $3.81 earnings per share. Home Depot’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.18%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HD. International Assets Investment Management LLC grew its holdings in Home Depot by 51,250.1% during the 3rd 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot during the third quarter valued at $336,231,000. FMR LLC increased its stake in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after purchasing an additional 518,054 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in Home Depot during the second quarter valued at $159,365,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.