Home Depot (NYSE:HD) Trading Up 0.7% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price was up 0.7% during mid-day trading on Thursday . The stock traded as high as $387.69 and last traded at $386.89. Approximately 2,847,219 shares traded hands during trading, an increase of 9% from the average daily volume of 2,609,328 shares. The stock had previously closed at $384.23.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HD shares. Wells Fargo & Company upped their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. TD Cowen boosted their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Truist Financial raised their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment 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. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

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 50 day moving average is $406.15 and its two-hundred day moving average is $385.33. The firm has a market cap of $387.53 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last released 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. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $3.81 earnings per share. As a group, analysts anticipate 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 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 dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insiders Place Their Bets

In other news, 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 transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The shares were 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 directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of HD. International Assets Investment Management LLC lifted its holdings 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 buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. lifted its stake in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Home Depot during the third quarter valued at $336,231,000. FMR LLC raised its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after acquiring an additional 518,054 shares during the last quarter. 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.