Matt Carey Sells 56,008 Shares of The Home Depot, Inc. (NYSE:HD) Stock

The Home Depot, Inc. (NYSE:HD) EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Home Depot Trading Down 1.7 %

Shares of NYSE HD opened at $330.56 on Thursday. The firm has a market cap of $327.59 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.01. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The business has a fifty day simple moving average of $352.48 and a two-hundred day simple moving average of $347.49.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.31 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, May 29th. Home Depot’s payout ratio is 60.36%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Koesten Hirschmann & Crabtree INC. purchased a new position in Home Depot during the 1st quarter worth $49,000. Second Line Capital LLC grew its stake in Home Depot by 8.5% during the 1st quarter. Second Line Capital LLC now owns 3,667 shares of the home improvement retailer’s stock worth $1,407,000 after buying an additional 287 shares during the last quarter. BigSur Wealth Management LLC grew its stake in Home Depot by 25.1% during the 1st quarter. BigSur Wealth Management LLC now owns 8,712 shares of the home improvement retailer’s stock worth $3,342,000 after buying an additional 1,747 shares during the last quarter. Atria Investments Inc grew its stake in Home Depot by 9.2% during the 1st quarter. Atria Investments Inc now owns 72,399 shares of the home improvement retailer’s stock worth $27,736,000 after buying an additional 6,095 shares during the last quarter. Finally, Swedbank AB purchased a new position in Home Depot during the 1st quarter worth $301,364,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Guggenheim restated a “buy” rating and set a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. Stifel Nicolaus lifted their target price on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Citigroup dropped their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Wells Fargo & Company dropped their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.46.

About Home Depot

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.