Traders bought shares of Home Depot Inc (NYSE:HD) on weakness during trading hours on Wednesday. $169.34 million flowed into the stock on the tick-up and $149.59 million flowed out of the stock on the tick-down, for a money net flow of $19.75 million into the stock. Of all companies tracked, Home Depot had the 19th highest net in-flow for the day. Home Depot traded down ($1.50) for the day and closed at $181.14
Several research firms have issued reports on HD. Credit Suisse Group set a $194.00 price target on Home Depot and gave the company a “hold” rating in a research note on Tuesday, February 26th. Telsey Advisory Group downgraded Home Depot from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $205.00 to $192.00 in a research note on Wednesday, February 27th. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Deutsche Bank lifted their price target on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Finally, DZ Bank downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $203.41.
The stock has a market capitalization of $206.15 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.09 and a quick ratio of 0.28.
Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. The company had revenue of $26.49 billion during the quarter, compared to analysts’ expectations of $26.57 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that Home Depot Inc will post 10.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s payout ratio is currently 41.66%.
Home Depot announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 26th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Mark Holifield sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the sale, the executive vice president now directly owns 39,794 shares in the company, valued at $7,306,178.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 5,450 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the sale, the executive vice president now owns 51,030 shares of the company’s stock, valued at $9,423,710.10. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Several hedge funds have recently modified their holdings of HD. Portfolio Solutions LLC acquired a new position in shares of Home Depot during the fourth quarter worth $26,000. Nalls Sherbakoff Group LLC acquired a new position in shares of Home Depot during the fourth quarter worth $30,000. Virtus ETF Advisers LLC acquired a new position in shares of Home Depot during the fourth quarter worth $32,000. Enlightenment Research LLC acquired a new position in shares of Home Depot during the fourth quarter worth $34,000. Finally, Private Ocean LLC increased its holdings in shares of Home Depot by 53.3% during the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.
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About Home Depot (NYSE:HD)
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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