Home Depot (NYSE:HD) Trading Up 0.5% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares were up 0.5% on Thursday . The company traded as high as $408.24 and last traded at $408.06. Approximately 451,248 shares traded hands during trading, a decline of 85% from the average daily volume of 3,026,910 shares. The stock had previously closed at $406.09.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. TD Cowen increased 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. Oppenheimer lifted their price target 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. Royal Bank of Canada increased their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Finally, Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Up 0.8 %

The stock has a 50 day moving average price of $405.88 and a 200 day moving average price of $386.65. 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 stock has a market capitalization of $406.44 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 4.11 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly 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 firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the company posted $3.81 EPS. The company’s revenue was up 6.6% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced 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 was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’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 completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of HD. International Assets Investment Management LLC boosted its position in 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 purchasing an additional 8,762,735 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Home Depot during the 3rd quarter worth $336,231,000. FMR LLC grew its position 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 buying an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position 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 buying an additional 518,054 shares during the period. Finally, Magnolia Capital Advisors LLC bought a new stake in Home Depot in the second quarter worth about $159,365,000. 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.