Investors bought shares of The Home Depot (NYSE:HD) on weakness during trading hours on Friday. $324.64 million flowed into the stock on the tick-up and $143.83 million flowed out of the stock on the tick-down, for a money net flow of $180.81 million into the stock. Of all equities tracked, The Home Depot had the 3rd highest net in-flow for the day. The Home Depot traded down ($0.07) for the day and closed at $177.01
HD has been the subject of several recent analyst reports. BMO Capital Markets lifted their target price on shares of The Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $223.00 target price on shares of The Home Depot in a research note on Monday, February 5th. Morgan Stanley set a $210.00 target price on shares of The Home Depot and gave the stock a “buy” rating in a research note on Wednesday, March 21st. Zacks Investment Research raised shares of The Home Depot from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, February 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $217.00 target price (down from $220.00) on shares of The Home Depot in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The Home Depot has an average rating of “Buy” and an average price target of $194.45.
The company has a debt-to-equity ratio of 16.69, a quick ratio of 0.38 and a current ratio of 1.17. The firm has a market cap of $210,019.67, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15.
The Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.07. The business had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. The Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. research analysts forecast that The Home Depot will post 9.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Thursday, March 8th were issued a dividend of $1.03 per share. This is a positive change from The Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date was Wednesday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 2.33%. The Home Depot’s payout ratio is presently 55.23%.
In related news, EVP Edward P. Decker sold 17,660 shares of The Home Depot stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $187.32, for a total transaction of $3,308,071.20. Following the sale, the executive vice president now owns 73,815 shares of the company’s stock, valued at approximately $13,827,025.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Armando M. Codina purchased 6,650 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average cost of $178.66 per share, for a total transaction of $1,188,089.00. Following the purchase, the director now directly owns 42,300 shares in the company, valued at $7,557,318. The disclosure for this purchase can be found here. Insiders have sold a total of 169,027 shares of company stock worth $31,220,882 in the last 90 days. Company insiders own 0.25% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HD. Vanguard Group Inc. increased its position in shares of The Home Depot by 0.9% in 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 purchasing an additional 703,292 shares during the last quarter. Capital Research Global Investors increased its position in shares of The Home Depot by 0.9% in 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 purchasing an additional 170,139 shares during the last quarter. Northern Trust Corp increased its position in shares of The Home Depot by 1.3% in 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 purchasing an additional 222,958 shares during the last quarter. Geode Capital Management LLC increased its position in shares of The Home Depot by 2.3% in 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 purchasing an additional 259,863 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of The Home Depot by 65.4% in 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 purchasing an additional 3,254,382 shares during the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.
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The Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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