Home Depot (NYSE:HD) Trading Up 0.4%

The Home Depot, Inc. (NYSE:HD)’s share price was up 0.4% during trading on Wednesday . The company traded as high as $366.78 and last traded at $365.11. Approximately 397,342 shares changed hands during trading, a decline of 88% from the average daily volume of 3,383,758 shares. The stock had previously closed at $363.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HD shares. Evercore ISI lifted their target price on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Stifel Nicolaus lifted their target price on Home Depot from $374.00 to $380.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. Truist Financial decreased their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $381.80.

Home Depot Price Performance

The firm has a market capitalization of $365.07 billion, a PE ratio of 24.49, a PEG ratio of 2.49 and a beta of 0.98. The stock has a 50-day moving average price of $344.19 and a 200 day moving average price of $353.36. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.82 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.3 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ruedi Wealth Management Inc. lifted its holdings in shares of Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares in the last quarter. Cape Investment Advisory Inc. lifted its holdings in shares of Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares in the last quarter. Acorn Creek Capital LLC raised its position in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the last quarter. Optas LLC raised its position in Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after buying an additional 29 shares during the last quarter. Finally, STAR Financial Bank raised its position in Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds 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.