Home Depot (NYSE:HD) Trading Up 1% - Still a Buy?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded up 1% during mid-day trading on Friday . The company traded as high as $392.24 and last traded at $391.00. 2,023,953 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 2,448,326 shares. The stock had previously closed at $387.20.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HD shares. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Guggenheim raised their price target on Home Depot from $390.00 to $450.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They issued a "buy" rating and a $420.00 target price on the stock. 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. Finally, Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.00.

Home Depot Stock Performance

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 firm has a market capitalization of $387.53 billion, a PE ratio of 26.50, a P/E/G ratio of 2.90 and a beta of 1.05. The firm's 50-day moving average price is $406.19 and its two-hundred day moving average price is $385.06.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating 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 business 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 company posted $3.81 earnings per share. Home Depot's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot's dividend payout ratio (DPR) is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the 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 directly owns 12,465 shares of the company's stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company's stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. Corporate insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc grew its holdings in Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer's stock valued at $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. boosted its position in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer's stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Pensionfund Sabic grew its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock worth $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Swedbank AB increased its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. Finally, Cerity Partners LLC raised its stake in Home Depot by 14.3% during the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer's stock valued at $273,055,000 after purchasing an additional 84,062 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.