Insider Selling: The Home Depot CEO Unloads 98,000 Shares of Stock (HD)
The Home Depot (NYSE:HD) CEO Francis S. Blake sold 98,000 shares of The Home Depot stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $91.33, for a total value of $8,950,340.00. Following the sale, the chief executive officer now directly owns 754,477 shares of the company’s stock, valued at approximately $68,906,384. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of The Home Depot (NYSE:HD) traded up 0.26% on Wednesday, hitting $91.87. 4,321,230 shares of the company’s stock traded hands. The Home Depot has a 1-year low of $72.21 and a 1-year high of $91.96. The stock’s 50-day moving average is $82.87 and its 200-day moving average is $80.23. The company has a market cap of $123.7 billion and a price-to-earnings ratio of 21.92. The Home Depot also was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 12,956,387 shares, a drop of 20.3% from the July 31st total of 16,260,267 shares. Based on an average daily trading volume, of 5,413,132 shares, the short-interest ratio is currently 2.4 days. Currently, 0.9% of the company’s stock are sold short.
The Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 19th. The company reported $1.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.45 by $0.07. The company had revenue of $23.80 billion for the quarter, compared to the consensus estimate of $23.61 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that The Home Depot will post $4.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, September 2nd.
A number of research firms have recently commented on HD. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Home Depot in a research note on Wednesday, August 20th. They now have a $95.00 price target on the stock, up previously from $92.00. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of The Home Depot in a research note on Wednesday, August 20th. They now have a $98.00 price target on the stock, up previously from $85.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of The Home Depot in a research note on Wednesday, August 20th. They now have a $91.00 price target on the stock, up previously from $85.50. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.05.
The Home Depot, Inc (NYSE:HD) is a home improvement retailer.
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