Home Depot (NYSE:HD) Stock Price Up 0.9%

The Home Depot, Inc. (NYSE:HD) shares shot up 0.9% during mid-day trading on Thursday . The stock traded as high as $336.20 and last traded at $335.76. 694,563 shares traded hands during trading, a decline of 79% from the average session volume of 3,313,246 shares. The stock had previously closed at $332.83.

Wall Street Analyst Weigh In

A number of analysts recently commented on HD shares. DA Davidson reiterated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Citigroup increased their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price objective on shares of Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. TD Cowen increased their price target on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, Stifel Nicolaus lifted their price objective on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Performance

The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock’s 50 day moving average price is $367.36 and its 200 day moving average price is $339.21. The company has a market capitalization of $332.35 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.22 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.30 EPS. Analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Insider Buying and Selling

In other Home Depot 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 sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated 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 completion of the transaction, 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently made changes to their positions in the company. BCK Partners Inc. bought a new stake in Home Depot during the first quarter worth $2,933,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot during the 1st quarter worth $27,000. Ergoteles LLC acquired a new position in shares of Home Depot during the 1st quarter worth $1,554,000. Equitable Holdings Inc. lifted its position in shares of Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after buying an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after acquiring an additional 24,640 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.