Home Depot (NYSE:HD) Stock Price Up 1.1% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price traded up 1.1% during mid-day trading on Tuesday . The company traded as high as $394.20 and last traded at $393.29. 690,166 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,810,217 shares. The stock had previously closed at $389.18.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HD shares. Wells Fargo & Company increased their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Truist Financial upped their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Finally, Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One equities research 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. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The firm has a 50-day simple moving average of $406.03 and a 200-day simple moving average of $386.31. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $388.09 billion, a P/E ratio of 26.54, a PEG ratio of 2.90 and a beta of 1.05.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. 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 2.30%. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In other 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 transaction of $6,553,958.08. Following the sale, 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 position. 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 company’s stock in a transaction 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 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. Over the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently bought and sold shares of the business. Texas Capital Bank Wealth Management Services Inc increased its holdings in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after purchasing an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. lifted its stake in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after acquiring an additional 86 shares in the last quarter. Pensionfund Sabic boosted its holdings in Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the period. Swedbank AB increased its stake in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Institutional investors and hedge funds 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.