Home Depot (NYSE:HD) Stock Price Down 1% Following Insider Selling

The Home Depot, Inc. (NYSE:HD) was down 1% on Wednesday following insider selling activity. The stock traded as low as $400.54 and last traded at $402.63. Approximately 592,078 shares changed hands during trading, a decline of 82% from the average daily volume of 3,368,591 shares. The stock had previously closed at $406.80.

Specifically, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Piper Sandler increased their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Truist Financial boosted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The company has a market capitalization of $407.43 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 2.83 and a beta of 1.01. 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 company’s 50 day simple moving average is $402.43 and its 200-day simple moving average is $368.30.

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

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Hedge Funds Weigh In On Home Depot

Several large investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC purchased a new position in shares of Home Depot in the 2nd quarter worth $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter worth $33,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 3rd quarter valued at $46,000. Finally, Denver PWM LLC purchased a new stake in Home Depot during the 2nd quarter worth $40,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.