Home Depot (NYSE:HD) Shares Up 0.9%

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.9% during mid-day trading on Friday . The company traded as high as $345.28 and last traded at $344.63. 505,318 shares changed hands during trading, a decline of 85% from the average session volume of 3,419,489 shares. The stock had previously closed at $341.49.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HD. HSBC reduced their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Mizuho initiated coverage on shares of Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective on the stock. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Citigroup reduced their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Stock Up 0.8 %

The company’s 50 day moving average price is $338.51 and its two-hundred day moving average price is $352.74. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market cap of $341.35 billion, a P/E ratio of 23.09, a PEG ratio of 2.36 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the prior year, the business earned $3.82 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.61%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Buying and Selling

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $27,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC grew its holdings in 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 valued at $32,000 after buying an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $35,000. 70.86% of the stock is owned by hedge funds and other 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.