Shares of The Home Depot, Inc. (NYSE:HD – Get Free Report) dropped 0.5% on Wednesday after Citigroup lowered their price target on the stock from $415.00 to $395.00. Citigroup currently has a buy rating on the stock. Home Depot traded as low as $337.63 and last traded at $338.89. Approximately 498,715 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 3,312,404 shares. The stock had previously closed at $340.69.
Other equities research analysts have also issued reports about the stock. Truist Financial reiterated a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Telsey Advisory Group restated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Tuesday. Bank of America boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Mizuho assumed coverage on Home Depot in a report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price on the stock. Finally, DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.19.
Insider Activity at Home Depot
In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.
Institutional Trading of Home Depot
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bare Financial Services Inc acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $27,000. Keener Financial Planning LLC acquired a new position in Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its stake in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 70.86% of the company’s stock.
Home Depot Trading Down 0.5 %
The business has a fifty day simple moving average of $360.47 and a 200 day simple moving average of $343.54. 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 company has a market cap of $335.79 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 2.28 and a beta of 1.01.
Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 EPS. Home Depot’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.
Home Depot Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.66%. Home Depot’s dividend payout ratio (DPR) is 59.60%.
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.
