Home Depot (NYSE:HD) Trading Down 0.5%

The Home Depot, Inc. (NYSE:HDGet Free Report)’s share price traded down 0.5% during trading on Wednesday . The stock traded as low as $359.88 and last traded at $361.09. 1,135,407 shares traded hands during trading, a decline of 64% from the average session volume of 3,183,049 shares. The stock had previously closed at $363.00.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Mizuho assumed coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target on the stock. Bank of America boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $376.35.

Get Our Latest Stock Report on Home Depot

Home Depot Stock Down 0.7 %

The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock has a 50-day simple moving average of $369.87 and a 200-day simple moving average of $335.96. The company has a market cap of $357.08 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts predict that The Home Depot, Inc. will post 15.38 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s 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 sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in the stock. 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. VisionPoint Advisory Group LLC bought a new stake in Home Depot during the second quarter worth about $26,000. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter worth about $31,000. Finally, Fairfield Bush & CO. bought a new stake in Home Depot in the first quarter valued at approximately $27,000. 70.86% of the stock is owned by institutional investors and hedge funds.

About Home Depot

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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.

Further Reading

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