Home Depot (NYSE:HD) Shares Up 0.9%

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.9% on Friday . The company traded as high as $345.28 and last traded at $344.63. 505,318 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,419,489 shares. The stock had previously closed at $341.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. Bank of America boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James restated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Tuesday, May 14th. HSBC reduced their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. Finally, Wells Fargo & Company dropped their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Trading Up 0.5 %

The company’s 50-day moving average is $338.15 and its 200-day moving average is $352.59. The firm has a market cap of $340.22 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 2.36 and a beta of 1.00. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the prior year, the company posted $3.82 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.62%. Home Depot’s payout ratio is presently 60.36%.

Insider Buying and Selling at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HD. Cape Investment Advisory Inc. grew its position in shares of Home Depot by 1.4% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares during the last quarter. Optas LLC boosted its holdings in shares of Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. STAR Financial Bank raised its stake in shares of Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after acquiring an additional 29 shares during the period. Talisman Wealth Advisors LLC raised its stake in shares of Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after acquiring an additional 29 shares during the period. Finally, Harvest Investment Advisors LLC raised its stake in shares of Home Depot by 0.8% in the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after acquiring an additional 30 shares during the period. 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.