Traders Sell Shares of Home Depot (HD) on Strength After Insider Selling

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Traders sold shares of Home Depot Inc (NYSE:HD) on strength during trading hours on Friday after an insider sold shares in the company. $155.17 million flowed into the stock on the tick-up and $695.74 million flowed out of the stock on the tick-down, for a money net flow of $540.57 million out of the stock. Of all equities tracked, Home Depot had the 0th highest net out-flow for the day. Home Depot traded up $0.62 for the day and closed at $182.23Specifically, EVP Edward P. Decker sold 23,744 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the sale, the executive vice president now owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 5,450 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total transaction of $1,006,451.50. Following the sale, the executive vice president now directly 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. Insiders have sold 41,194 shares of company stock valued at $7,553,141 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

HD has been the subject of several recent analyst reports. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Bank of America cut Home Depot from a “buy” rating to a “neutral” rating and cut their target price for the stock from $219.00 to $195.00 in a research note on Friday, November 16th. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Wedbush dropped their price objective on Home Depot from $190.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 27th. Finally, Telsey Advisory Group downgraded Home Depot from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $205.00 to $192.00 in a research report on Wednesday, February 27th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $203.41.

The company has a market cap of $205.13 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.58 and a beta of 1.09. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.11.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 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 analysts’ expectations of $26.57 billion. During the same period in the prior year, the company earned $1.69 EPS. Home Depot’s revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Home Depot Inc will post 10.08 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a $1.36 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 annualized dividend and a yield of 2.99%. Home Depot’s dividend payout ratio (DPR) is currently 55.01%.

Home Depot declared that its board has approved 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 usually a sign that the company’s management believes its shares are undervalued.

A number of institutional investors have recently bought and sold shares of HD. Portfolio Solutions LLC bought a new position in shares of Home Depot during the fourth quarter valued at $26,000. Nalls Sherbakoff Group LLC bought a new position in Home Depot during the 4th quarter worth $30,000. Virtus ETF Advisers LLC bought a new position in Home Depot during the 4th quarter worth $32,000. Enlightenment Research LLC bought a new position in Home Depot during the 4th quarter worth $34,000. Finally, Private Ocean LLC raised its position in Home Depot by 53.3% during the 4th quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 68.22% of the company’s stock.

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About Home Depot (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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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