Investors Buy High Volume of Home Depot Put Options (NYSE:HD)

The Home Depot, Inc. (NYSE:HD - Get Free Report) was the recipient of unusually large options trading on Monday. Traders bought 23,918 put options on the stock. This is an increase of 10% compared to the average volume of 21,716 put options.

Wall Street Analyst Weigh In

Several brokerages have commented on HD. Wedbush reissued an "outperform" rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Finally, HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and boosted their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC purchased a new stake in Home Depot during the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot during the 4th quarter valued at approximately $32,000. Finally, Quarry LP lifted its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.0 %

NYSE HD traded down $0.00 during trading hours on Friday, reaching $353.62. The company's stock had a trading volume of 3,573,171 shares, compared to its average volume of 3,492,336. The stock has a market cap of $351.51 billion, a P/E ratio of 24.02, a P/E/G ratio of 4.03 and a beta of 1.09. Home Depot has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a fifty day simple moving average of $376.45 and a 200-day simple moving average of $396.27. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 earnings per share. Equities analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

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.