Home Depot (NYSE:HD) Trading Up 1.4% – Still a Buy?

Shares of The Home Depot, Inc. (NYSE:HD) traded up 1.4% during trading on Thursday . The stock traded as high as $406.78 and last traded at $405.47. 1,119,837 shares changed hands during trading, a decline of 67% from the average session volume of 3,376,959 shares. The stock had previously closed at $400.00.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HD. Wells Fargo & Company lifted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. DA Davidson upped their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Truist Financial boosted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

The stock has a 50 day simple moving average of $401.72 and a 200 day simple moving average of $368.01. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $404.79 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC raised its stake in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Home Depot in the third quarter valued at about $336,231,000. Finally, FMR LLC boosted its stake in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the period. 70.86% of the stock is currently 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.