Traders Sell Home Depot (HD) on Strength (HD)
Investors sold shares of Home Depot, Inc. (The) (NYSE:HD) on strength during trading hours on Wednesday. $172.83 million flowed into the stock on the tick-up and $258.52 million flowed out of the stock on the tick-down, for a money net flow of $85.69 million out of the stock. Of all stocks tracked, Home Depot had the 15th highest net out-flow for the day. Home Depot traded up $1.23 for the day and closed at $183.03
HD has been the topic of a number of recent analyst reports. BTIG Research reissued a “buy” rating and set a $175.00 price target on shares of Home Depot in a research report on Tuesday, August 15th. Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Oppenheimer set a $178.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, UBS reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Home Depot in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $182.72.
The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. The stock has a market cap of $213,730.00, a P/E ratio of 25.31, a PEG ratio of 1.85 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.95%. Home Depot’s payout ratio is currently 49.38%.
Home Depot announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of Home Depot stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in shares of Home Depot during the 1st quarter worth about $100,000. Jacobi Capital Management LLC boosted its holdings in shares of Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after buying an additional 101 shares during the period. Burt Wealth Advisors boosted its holdings in shares of Home Depot by 83.5% during the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after buying an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after buying an additional 340 shares during the period. Finally, Empire Life Investments Inc. boosted its holdings in shares of Home Depot by 233.4% during the 3rd quarter. Empire Life Investments Inc. now owns 957 shares of the home improvement retailer’s stock worth $157,000 after buying an additional 670 shares during the period. Institutional investors own 70.37% 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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