Home Depot (NYSE:HD) Stock Price Up 1% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price shot up 1% during trading on Friday . The stock traded as high as $392.24 and last traded at $391.00. 2,023,953 shares changed hands during trading, a decline of 17% from the average session volume of 2,448,326 shares. The stock had previously closed at $387.20.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HD shares. Truist Financial boosted their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Up 0.8 %

The firm has a market cap of $387.53 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The company’s fifty day moving average price is $406.15 and its two-hundred day moving average price is $385.66. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during 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 company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.81 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid 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%.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of the business. Graypoint LLC grew its holdings in Home Depot by 3.7% during the fourth quarter. Graypoint LLC now owns 12,945 shares of the home improvement retailer’s stock valued at $5,036,000 after purchasing an additional 457 shares during the period. RMR Wealth Builders grew its holdings in shares of Home Depot by 2.2% in the 4th quarter. RMR Wealth Builders now owns 11,429 shares of the home improvement retailer’s stock valued at $4,446,000 after buying an additional 246 shares during the period. Lynch & Associates IN grew its holdings in shares of Home Depot by 5.0% in the 4th quarter. Lynch & Associates IN now owns 6,193 shares of the home improvement retailer’s stock valued at $2,409,000 after buying an additional 297 shares during the period. Sugarloaf Wealth Management LLC raised its stake in Home Depot by 21.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 21,079 shares of the home improvement retailer’s stock worth $8,200,000 after buying an additional 3,742 shares during the period. Finally, Sage Capital Advisors llc lifted its holdings in Home Depot by 0.7% during the fourth quarter. Sage Capital Advisors llc now owns 19,466 shares of the home improvement retailer’s stock worth $7,572,000 after acquiring an additional 143 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

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.