Home Depot (NYSE:HD) Shares Up 1.3% Following Analyst Upgrade

The Home Depot, Inc. (NYSE:HD) shares traded up 1.3% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $450.00 to $475.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Home Depot traded as high as $414.58 and last traded at $412.70. 429,624 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,910,524 shares. The stock had previously closed at $407.37.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley boosted their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada lifted their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $428.78.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors have recently made changes to their positions in the company. Madison Investment Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $41,693,000. JPL Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $3,193,000. Phillips Financial Management LLC increased its stake in shares of Home Depot by 4.0% during the 4th quarter. Phillips Financial Management LLC now owns 1,216 shares of the home improvement retailer’s stock worth $473,000 after purchasing an additional 47 shares during the last quarter. Impact Capital Partners LLC purchased a new position in Home Depot in the fourth quarter valued at approximately $3,907,000. Finally, DecisionMap Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $978,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.2 %

The company has a market cap of $409.54 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a fifty day moving average of $406.14 and a two-hundred day moving average of $394.55.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $3.81 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.