Home Depot (NYSE:HD) Stock Price Up 0.2% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) rose 0.2% on Tuesday . The stock traded as high as $393.17 and last traded at $393.17. Approximately 297,118 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,382,184 shares. The stock had previously closed at $392.45.

Analyst Ratings Changes

Several research firms have commented on HD. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Truist Financial boosted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

The firm has a market cap of $393.51 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The firm’s 50 day moving average is $409.09 and its 200-day moving average is $382.11. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.81 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Several hedge funds have recently made changes to their positions in the stock. Independent Solutions Wealth Management LLC lifted its position in Home Depot by 8.8% in the third quarter. Independent Solutions Wealth Management LLC now owns 8,652 shares of the home improvement retailer’s stock worth $3,506,000 after purchasing an additional 701 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Home Depot by 0.6% during the 3rd quarter. Lord Abbett & CO. LLC now owns 125,350 shares of the home improvement retailer’s stock worth $50,792,000 after acquiring an additional 776 shares during the period. Brass Tax Wealth Management Inc. boosted its position in shares of Home Depot by 30.5% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 788 shares of the home improvement retailer’s stock valued at $319,000 after acquiring an additional 184 shares in the last quarter. Legacy Wealth Management LLC MS increased its stake in Home Depot by 43.0% in the third quarter. Legacy Wealth Management LLC MS now owns 1,288 shares of the home improvement retailer’s stock valued at $522,000 after acquiring an additional 387 shares during the period. Finally, Alternative Investment Advisors LLC. acquired a new position in Home Depot in the third quarter worth about $242,000. Institutional investors own 70.86% of the company’s stock.

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.