Home Depot (NYSE:HD) Trading Down 0.9%

The Home Depot, Inc. (NYSE:HD) was down 0.9% during mid-day trading on Friday . The company traded as low as $342.60 and last traded at $344.15. Approximately 665,569 shares were traded during trading, a decline of 80% from the average daily volume of 3,266,215 shares. The stock had previously closed at $347.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HD shares. TD Cowen lifted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Bank of America lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Wells Fargo & Company raised their price target on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group raised their price target on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $376.35.

Home Depot Trading Down 1.3 %

The firm’s 50-day simple moving average is $369.91 and its 200 day simple moving average is $338.32. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a market cap of $339.79 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the previous year, the firm posted $3.30 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Congress Wealth Management LLC DE boosted its stake in shares of Home Depot by 3.7% in the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after purchasing an additional 3,162 shares in the last quarter. Wolf Group Capital Advisors boosted its stake in shares of Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after purchasing an additional 430 shares in the last quarter. Alliance Wealth Management Group purchased a new stake in shares of Home Depot in the 4th quarter valued at $253,000. Psagot Value Holdings Ltd. Israel boosted its stake in shares of Home Depot by 8.0% in the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after purchasing an additional 200 shares in the last quarter. Finally, Zullo Investment Group Inc. boosted its stake in shares of Home Depot by 6.6% in the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after purchasing an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

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.