Home Depot (NYSE:HD) Sees Large Volume Increase

Shares of Home Depot Inc (NYSE:HD) saw an uptick in trading volume on Friday . 8,091,715 shares traded hands during trading, an increase of 86% from the previous session’s volume of 4,359,378 shares.The stock last traded at $207.97 and had previously closed at $207.02.

Several research firms recently weighed in on HD. Wedbush set a $190.00 price target on shares of Home Depot and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded shares of Home Depot from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Stifel Nicolaus increased their price target on shares of Home Depot from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada reduced their price target on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, Wells Fargo & Co increased their price target on shares of Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $205.29.

The company has a current ratio of 1.04, a quick ratio of 0.26 and a debt-to-equity ratio of 17.68. The firm has a market cap of $228.83 billion, a PE ratio of 21.03, a P/E/G ratio of 1.93 and a beta of 1.11. The business has a 50-day moving average price of $197.77.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.10. The firm had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $2.08 earnings per share. On average, equities analysts predict that Home Depot Inc will post 10.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a $1.36 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.62%. Home Depot’s dividend payout ratio (DPR) is currently 55.01%.

In other news, EVP Matt Carey sold 34,688 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $202.09, for a total value of $7,010,097.92. Following the completion of the transaction, the executive vice president now directly owns 81,982 shares in the company, valued at $16,567,742.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the completion of the transaction, the executive vice president now owns 64,575 shares of the company’s stock, valued at $12,482,347.50. The disclosure for this sale can be found here. Insiders sold 82,522 shares of company stock valued at $16,156,831 over the last 90 days. 0.27% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in HD. Weaver Consulting Group purchased a new stake in Home Depot in the first quarter valued at approximately $475,000. First Trust Advisors LP raised its stake in Home Depot by 2.8% in the first quarter. First Trust Advisors LP now owns 435,297 shares of the home improvement retailer’s stock valued at $83,529,000 after purchasing an additional 11,951 shares in the last quarter. Horizon Investments LLC raised its stake in Home Depot by 36.7% in the first quarter. Horizon Investments LLC now owns 39,298 shares of the home improvement retailer’s stock valued at $7,541,000 after purchasing an additional 10,549 shares in the last quarter. Merit Financial Group LLC raised its stake in Home Depot by 4.6% in the first quarter. Merit Financial Group LLC now owns 2,995 shares of the home improvement retailer’s stock valued at $574,000 after purchasing an additional 133 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its stake in Home Depot by 5.5% in the first quarter. Laurel Wealth Advisors Inc. now owns 23,984 shares of the home improvement retailer’s stock valued at $4,602,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors own 69.34% of the company’s stock.

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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