Investors Sell Home Depot (HD) on Strength (HD)

Traders sold shares of Home Depot Inc (NYSE:HD) on strength during trading on Monday. $113.02 million flowed into the stock on the tick-up and $178.64 million flowed out of the stock on the tick-down, for a money net flow of $65.62 million out of the stock. Of all equities tracked, Home Depot had the 6th highest net out-flow for the day. Home Depot traded up $1.49 for the day and closed at $203.55

A number of brokerages have recently weighed in on HD. Bank of America set a $195.00 price objective on Home Depot and gave the company a “hold” rating in a report on Monday, December 10th. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Monday, December 31st. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Credit Suisse Group set a $194.00 price target on shares of Home Depot and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Telsey Advisory Group lowered shares of Home Depot from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $205.00 to $192.00 in a research report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Home Depot has an average rating of “Buy” and an average target price of $203.61.

The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. The stock has a market cap of $223.47 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.76 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.09. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The company had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. During the same period in the previous year, the company posted $1.69 earnings per share. Home Depot’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts expect that Home Depot Inc will post 10.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.67%. This is a positive change from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date was Wednesday, March 13th. Home Depot’s payout ratio is 55.01%.

Home Depot declared that its board has initiated a stock repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the completion of the transaction, the executive vice president now owns 86,813 shares in the company, valued at approximately $15,880,702.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the transaction, the executive vice president now owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,194 shares of company stock valued at $7,553,141. Company insiders own 0.25% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Portfolio Solutions LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $26,000. Nalls Sherbakoff Group LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $30,000. Virtus ETF Advisers LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $32,000. Enlightenment Research LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $34,000. Finally, Private Ocean LLC increased its position in shares of Home Depot by 53.3% during the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 72 shares in the last quarter. 70.81% of the stock is owned by institutional investors.

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Home Depot Company Profile (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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