Investors purchased shares of Home Depot Inc (NYSE:HD) on weakness during trading hours on Thursday. $226.04 million flowed into the stock on the tick-up and $163.32 million flowed out of the stock on the tick-down, for a money net flow of $62.72 million into the stock. Of all companies tracked, Home Depot had the 4th highest net in-flow for the day. Home Depot traded down ($0.64) for the day and closed at $177.94
HD has been the subject of several recent analyst reports. Credit Suisse Group set a $222.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Bank of America reaffirmed a “buy” rating and set a $190.60 price objective (down previously from $219.00) on shares of Home Depot in a research report on Tuesday, February 20th. Citigroup raised their price objective on shares of Home Depot from $179.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, November 16th. BTIG Research raised their price objective on shares of Home Depot to $215.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Finally, Morgan Stanley set a $185.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $193.15.
The company has a current ratio of 1.17, a quick ratio of 0.38 and a debt-to-equity ratio of 16.69. The stock has a market cap of $217,760.00, a PE ratio of 24.62, a PEG ratio of 1.38 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This is a boost from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a yield of 2.26%. Home Depot’s dividend payout ratio (DPR) is 55.68%.
Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
In related news, Director Armando M. Codina acquired 6,650 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were acquired at an average cost of $178.66 per share, for a total transaction of $1,188,089.00. Following the purchase, the director now owns 42,300 shares in the company, valued at $7,557,318. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig A. Menear sold 113,687 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the transaction, the chief executive officer now owns 237,957 shares in the company, valued at $43,734,117.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 169,027 shares of company stock worth $31,220,882. Company insiders own 0.26% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Jackson Grant Investment Advisers Inc. raised its stake in shares of Home Depot by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,651 shares of the home improvement retailer’s stock worth $253,000 after purchasing an additional 7 shares during the period. Mcdaniel Terry & Co. raised its stake in shares of Home Depot by 0.5% during the 2nd quarter. Mcdaniel Terry & Co. now owns 1,678 shares of the home improvement retailer’s stock worth $257,000 after purchasing an additional 9 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Home Depot by 0.3% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 3,782 shares of the home improvement retailer’s stock valued at $580,000 after acquiring an additional 10 shares during the period. Fort Pitt Capital Group LLC raised its stake in Home Depot by 0.3% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 3,444 shares of the home improvement retailer’s stock valued at $528,000 after acquiring an additional 10 shares during the period. Finally, Train Babcock Advisors LLC raised its stake in Home Depot by 0.4% in the 2nd quarter. Train Babcock Advisors LLC now owns 4,823 shares of the home improvement retailer’s stock valued at $739,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 69.63% of the company’s stock.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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