Home Depot (NYSE:HD) Shares Up 0.2% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price traded up 0.2% on Wednesday . The stock traded as high as $385.10 and last traded at $384.89. 433,234 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,113,816 shares. The stock had previously closed at $384.23.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. 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 note on Monday, October 21st. Bank of America raised their target price 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. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus raised their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” 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 given a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

The firm has a market cap of $382.95 billion, a P/E ratio of 26.19, a P/E/G ratio of 2.90 and a beta of 1.05. The firm’s fifty day simple moving average is $406.45 and its 200 day simple moving average is $385.03. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 EPS. The firm’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 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot 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 transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 over the last ninety days. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lantz Financial LLC boosted its position in Home Depot by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer’s stock valued at $2,069,000 after acquiring an additional 89 shares in the last quarter. Quest Partners LLC bought a new position in Home Depot in the second quarter worth about $1,388,000. Lane & Associates LLC lifted its position in shares of Home Depot by 3.8% during the second quarter. Lane & Associates LLC now owns 784 shares of the home improvement retailer’s stock valued at $270,000 after buying an additional 29 shares during the last quarter. LGT Fund Management Co Ltd. boosted its holdings in shares of Home Depot by 255.4% in the 2nd quarter. LGT Fund Management Co Ltd. now owns 20,010 shares of the home improvement retailer’s stock valued at $6,888,000 after buying an additional 14,380 shares in the last quarter. Finally, Invesco LLC grew its position in shares of Home Depot by 1.3% in the 2nd quarter. Invesco LLC now owns 3,906 shares of the home improvement retailer’s stock worth $1,345,000 after buying an additional 52 shares during the last quarter. 70.86% of the stock is currently 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.