Home Depot (NYSE:HD) Shares Up 0.5%

The Home Depot, Inc. (NYSE:HD)’s share price shot up 0.5% during trading on Wednesday . The company traded as high as $340.77 and last traded at $338.90. 371,351 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 3,411,121 shares. The stock had previously closed at $337.09.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. HSBC lowered their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Tuesday, May 14th. Wedbush restated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. TD Cowen decreased their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Citigroup dropped their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.42.

Home Depot Stock Up 0.3 %

The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company has a market cap of $352.02 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.38 and a beta of 0.98. The business’s 50 day moving average is $339.19 and its 200 day moving average is $352.02.

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, beating analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.82 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raleigh Capital Management Inc. increased its position in shares of Home Depot by 5.7% in the third quarter. Raleigh Capital Management Inc. now owns 3,351 shares of the home improvement retailer’s stock valued at $1,013,000 after buying an additional 180 shares in the last quarter. WNY Asset Management LLC lifted its stake in Home Depot by 11.2% in the 3rd quarter. WNY Asset Management LLC now owns 1,839 shares of the home improvement retailer’s stock valued at $556,000 after buying an additional 185 shares in the last quarter. DNB Asset Management AS boosted its holdings in Home Depot by 7.7% in the 4th quarter. DNB Asset Management AS now owns 253,657 shares of the home improvement retailer’s stock worth $87,905,000 after buying an additional 18,030 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in Home Depot by 9.6% during the 4th quarter. Trust Co. of Toledo NA OH now owns 19,393 shares of the home improvement retailer’s stock worth $6,721,000 after buying an additional 1,701 shares in the last quarter. Finally, FCF Advisors LLC purchased a new position in shares of Home Depot in the fourth quarter valued at approximately $2,912,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.