Home Depot (NYSE:HD) Trading Up 0.9%

The Home Depot, Inc. (NYSE:HD)’s share price rose 0.9% during trading on Thursday . The company traded as high as $336.20 and last traded at $335.76. Approximately 694,563 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,313,246 shares. The stock had previously closed at $332.83.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a report on Monday, February 26th. Guggenheim restated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a report on Friday, April 5th. Wells Fargo & Company raised their target price on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. Finally, Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Stock Down 0.1 %

The firm has a market capitalization of $329.46 billion, a PE ratio of 22.24, a P/E/G ratio of 2.23 and a beta of 0.98. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The stock has a 50-day simple moving average of $368.54 and a 200-day simple moving average of $339.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.30 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.71%. Home Depot’s payout ratio is 59.60%.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bare Financial Services Inc bought a new stake in Home Depot during the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot during the fourth quarter worth about $27,000. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter worth about $31,000. Fairfield Bush & CO. bought a new stake in Home Depot during the first quarter worth about $27,000. Finally, PFG Private Wealth Management LLC lifted its stake in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.