Home Depot (NYSE:HD) Trading Down 1% After Insider Selling

The Home Depot, Inc. (NYSE:HD)’s share price fell 1% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $400.54 and last traded at $402.63. 592,078 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,368,591 shares. The stock had previously closed at $406.80.

Specifically, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

HD has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Mizuho boosted their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50-day moving average price of $402.43 and a 200 day moving average price of $368.30. The firm has a market capitalization of $407.43 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the company. Tudor Financial Inc. purchased a new stake in Home Depot during the third quarter worth approximately $1,027,000. McIlrath & Eck LLC increased its position in Home Depot by 4.5% during the third quarter. McIlrath & Eck LLC now owns 2,687 shares of the home improvement retailer’s stock worth $1,089,000 after buying an additional 115 shares during the period. Invst LLC increased its holdings in shares of Home Depot by 1.7% in the 3rd quarter. Invst LLC now owns 6,710 shares of the home improvement retailer’s stock valued at $2,719,000 after acquiring an additional 115 shares during the period. Unigestion Holding SA boosted its stake in Home Depot by 12.0% during the 3rd quarter. Unigestion Holding SA now owns 65,167 shares of the home improvement retailer’s stock worth $26,389,000 after purchasing an additional 6,995 shares during the period. Finally, Second Line Capital LLC grew its position in Home Depot by 2.1% during the 3rd quarter. Second Line Capital LLC now owns 4,632 shares of the home improvement retailer’s stock worth $1,877,000 after purchasing an additional 97 shares during the last quarter. 70.86% of the stock is 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.