Home Depot (NYSE:HD) Stock Price Up 0.5% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares traded up 0.5% during mid-day trading on Thursday . The company traded as high as $408.24 and last traded at $408.06. 451,248 shares were traded during trading, a decline of 85% from the average session volume of 3,026,910 shares. The stock had previously closed at $406.09.

Analyst Ratings Changes

Several analysts have recently commented on HD shares. Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Finally, Evercore ISI raised their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

The stock has a 50 day moving average price of $406.44 and a two-hundred day moving average price of $386.94. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $406.70 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 4.11 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the business earned $3.81 earnings per share. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, 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 in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 over the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in HD. Cerro Pacific Wealth Advisors LLC boosted its position in Home Depot by 2.2% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,540 shares of the home improvement retailer’s stock worth $1,435,000 after purchasing an additional 77 shares during the period. FCG Investment Co boosted its holdings in shares of Home Depot by 4.4% during the 4th quarter. FCG Investment Co now owns 5,251 shares of the home improvement retailer’s stock worth $2,043,000 after buying an additional 223 shares during the period. Apeiron RIA LLC grew its stake in Home Depot by 5.9% in the 4th quarter. Apeiron RIA LLC now owns 1,336 shares of the home improvement retailer’s stock valued at $520,000 after buying an additional 75 shares during the last quarter. Secure Asset Management LLC raised its holdings in Home Depot by 129.2% in the 4th quarter. Secure Asset Management LLC now owns 6,955 shares of the home improvement retailer’s stock valued at $2,705,000 after acquiring an additional 3,920 shares during the period. Finally, Red Door Wealth Management LLC lifted its position in Home Depot by 5.0% during the fourth quarter. Red Door Wealth Management LLC now owns 25,108 shares of the home improvement retailer’s stock worth $9,767,000 after acquiring an additional 1,186 shares during the last quarter. 70.86% of the stock is 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.