The Home Depot, Inc. (NYSE:HD – Get Rating) EVP Fahim Siddiqui sold 2,000 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $311.29, for a total transaction of $622,580.00. Following the completion of the sale, the executive vice president now owns 3,928 shares of the company’s stock, valued at approximately $1,222,747.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Fahim Siddiqui also recently made the following trade(s):
- On Friday, September 9th, Fahim Siddiqui sold 1,000 shares of Home Depot stock. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00.
Home Depot Price Performance
Shares of NYSE HD opened at $313.18 on Friday. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The stock has a market cap of $320.61 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.67 and a beta of 0.95. The company’s 50-day moving average price is $286.40 and its 200 day moving average price is $292.58. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of 32.16.
Home Depot announced that its board has initiated a stock buyback program on Thursday, August 18th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Home Depot Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $1.90 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $7.60 annualized dividend and a dividend yield of 2.43%. Home Depot’s dividend payout ratio is currently 45.81%.
Institutional Investors Weigh In On Home Depot
Hedge funds have recently modified their holdings of the company. Power Corp of Canada acquired a new stake in shares of Home Depot in the third quarter worth approximately $2,867,000. Industrial Alliance Investment Management Inc. boosted its position in shares of Home Depot by 4.3% in the third quarter. Industrial Alliance Investment Management Inc. now owns 120,102 shares of the home improvement retailer’s stock worth $33,141,000 after acquiring an additional 4,980 shares during the last quarter. Legend Financial Advisors Inc. acquired a new stake in shares of Home Depot in the third quarter worth approximately $52,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Home Depot in the third quarter worth approximately $968,000. Finally, Cladis Investment Advisory LLC boosted its position in shares of Home Depot by 4.9% in the third quarter. Cladis Investment Advisory LLC now owns 1,624 shares of the home improvement retailer’s stock worth $448,000 after acquiring an additional 76 shares during the last quarter. 68.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently commented on HD shares. Truist Financial reduced their price target on shares of Home Depot from $400.00 to $382.00 and set a “buy” rating for the company in a research report on Wednesday. TheStreet upgraded shares of Home Depot from a “c+” rating to a “b” rating in a research report on Tuesday, November 15th. The Goldman Sachs Group cut their price objective on shares of Home Depot from $366.00 to $329.00 and set a “buy” rating for the company in a research report on Tuesday, November 8th. Piper Sandler cut their price objective on shares of Home Depot from $327.00 to $323.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, UBS Group upped their price objective on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $346.29.
About Home Depot
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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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