Traders Buy Shares of Home Depot (HD) on Weakness After Insider Selling

Investors purchased shares of Home Depot, Inc. (The) (NYSE:HD) on weakness during trading on Monday following insider selling activity. $319.54 million flowed into the stock on the tick-up and $157.75 million flowed out of the stock on the tick-down, for a money net flow of $161.79 million into the stock. Of all companies tracked, Home Depot had the highest net in-flow for the day. Home Depot traded down ($1.16) for the day and closed at $182.25Specifically, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Several equities research analysts have commented on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Home Depot in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $178.00 price target on shares of Home Depot in a report on Wednesday, August 16th. Robert W. Baird reaffirmed an “outperform” rating and issued a $195.00 price target on shares of Home Depot in a report on Thursday, November 30th. Wedbush reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, August 16th. Finally, Sanford C. Bernstein set a $170.00 target price on shares of Home Depot and gave the stock a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and a consensus price target of $182.06.

The stock has a market capitalization of $214,176.86, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.03. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. Home Depot’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $1.60 EPS. analysts forecast that Home Depot, Inc. will post 7.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio is presently 49.44%.

Home Depot announced that its board has approved a share buyback plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. raised its holdings in Home Depot by 0.4% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 1,644 shares of the home improvement retailer’s stock valued at $241,000 after acquiring an additional 6 shares during the last quarter. Mascoma Wealth Management LLC increased its holdings in shares of Home Depot by 0.6% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $175,000 after buying an additional 7 shares during the last quarter. Paragon Wealth Strategies LLC increased its holdings in shares of Home Depot by 0.4% during the 2nd quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock worth $280,000 after buying an additional 7 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. increased its holdings in shares of Home Depot by 0.3% during the 1st quarter. Pineno Levin & Ford Asset Management Inc. now owns 2,725 shares of the home improvement retailer’s stock worth $400,000 after buying an additional 9 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its holdings in shares of Home Depot by 0.6% during the 2nd quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock worth $228,000 after buying an additional 9 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

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About Home Depot

The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.

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