Home Depot Inc (NYSE:HD) Director Gregory D. Brenneman acquired 16,827 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The shares were bought at an average price of $178.29 per share, for a total transaction of $3,000,085.83. Following the completion of the acquisition, the director now owns 46,332 shares of the company’s stock, valued at $8,260,532.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Home Depot stock traded down $2.73 during trading on Thursday, hitting $175.29. 5,250,000 shares of the stock traded hands, compared to its average volume of 5,382,720. The firm has a market cap of $208,046.17, a price-to-earnings ratio of 24.08, a PEG ratio of 1.43 and a beta of 1.14. Home Depot Inc has a one year low of $144.25 and a one year high of $207.60. The company has a quick ratio of 0.38, a current ratio of 1.17 and a debt-to-equity ratio of 16.69.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.07. The company had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. Home Depot’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. sell-side analysts anticipate that Home Depot Inc will post 9.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.35%. Home Depot’s payout ratio is currently 56.59%.
Home Depot declared that its board has authorized a stock repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages recently commented on HD. Morgan Stanley set a $210.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a report on Wednesday. Loop Capital began coverage on shares of Home Depot in a report on Thursday, March 1st. They set a “hold” rating and a $187.00 price objective on the stock. Robert W. Baird restated an “outperform” rating and set a $195.00 price objective on shares of Home Depot in a report on Thursday, November 30th. BMO Capital Markets raised their price objective on shares of Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Telsey Advisory Group raised their price objective on shares of Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $194.04.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Home Depot by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock worth $12,336,016,000 after buying an additional 703,292 shares during the period. Capital Research Global Investors boosted its holdings in shares of Home Depot by 0.9% during the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after buying an additional 170,139 shares during the period. Northern Trust Corp boosted its holdings in shares of Home Depot by 1.3% during the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after buying an additional 222,958 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 11,675,138 shares of the home improvement retailer’s stock worth $2,207,871,000 after buying an additional 259,863 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Home Depot by 65.4% during the 4th quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock worth $1,559,421,000 after buying an additional 3,254,382 shares during the period. Institutional investors own 70.59% 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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