Traders Buy Shares of Home Depot (HD) on Weakness
Traders bought shares of Home Depot Inc (NYSE:HD) on weakness during trading hours on Wednesday. $163.36 million flowed into the stock on the tick-up and $121.23 million flowed out of the stock on the tick-down, for a money net flow of $42.13 million into the stock. Of all equities tracked, Home Depot had the 25th highest net in-flow for the day. Home Depot traded down ($0.66) for the day and closed at $196.95
Several analysts have recently weighed in on HD shares. Gabelli started coverage on Home Depot in a report on Wednesday, April 11th. They set a “buy” rating and a $206.00 price target on the stock. Morgan Stanley set a $210.00 price target on Home Depot and gave the stock a “buy” rating in a report on Wednesday, March 21st. Deutsche Bank set a $210.00 price target on Home Depot and gave the stock a “buy” rating in a report on Tuesday, May 15th. Wells Fargo & Co set a $205.00 price target on Home Depot and gave the stock a “buy” rating in a report on Tuesday, May 15th. Finally, Bank of America restated a “buy” rating and set a $215.00 price target on shares of Home Depot in a report on Tuesday, May 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $197.68.
The company has a debt-to-equity ratio of 14.37, a current ratio of 1.17 and a quick ratio of 0.37. The company has a market cap of $226.19 billion, a PE ratio of 26.38, a P/E/G ratio of 1.47 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Thursday, May 31st were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Wednesday, May 30th. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
In other Home Depot news, Director Stephanie Linnartz purchased 1,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were purchased at an average cost of $187.57 per share, with a total value of $187,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Holifield sold 45,549 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $186.84, for a total value of $8,510,375.16. Following the completion of the transaction, the executive vice president now directly owns 51,879 shares in the company, valued at $9,693,072.36. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ford Financial Group Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $108,000. Lucia Wealth Services LLC acquired a new position in shares of Home Depot during the first quarter worth approximately $101,000. Earnest Partners LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $108,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $112,000. Finally, Institutional & Family Asset Management LLC acquired a new position in shares of Home Depot during the first quarter worth approximately $108,000. 69.16% of the stock is currently owned by hedge funds and other institutional investors.
About Home Depot
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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