Home Depot (NYSE:HD) Trading Up 1.1% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price rose 1.1% during mid-day trading on Monday . The stock traded as high as $419.83 and last traded at $419.10. Approximately 903,183 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 3,098,800 shares. The stock had previously closed at $414.50.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Morgan Stanley increased their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Guggenheim increased their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada increased their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a "sector perform" rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $426.00.

Home Depot Stock Performance

The company has a market cap of $409.13 billion, a P/E ratio of 27.98, a PEG ratio of 4.35 and a beta of 1.05. The business's 50 day simple moving average is $407.86 and its 200 day simple moving average is $392.46. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analysts' expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. Home Depot's dividend payout ratio (DPR) is presently 61.14%.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 20,404 shares of the company's stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the 3rd quarter worth approximately $46,000. Hedge funds and other 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.