Stock Traders Buy Large Volume of Home Depot Put Options (NYSE:HD)

The Home Depot, Inc. (NYSE:HD) was the recipient of some unusual options trading on Thursday. Stock traders acquired 40,186 put options on the stock. This represents an increase of 76% compared to the average daily volume of 22,813 put options.

Home Depot Trading Down 4.7 %

Shares of NYSE:HD opened at $347.42 on Friday. The business’s 50 day moving average price is $398.19 and its 200-day moving average price is $399.42. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $345.12 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. Home Depot has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the firm posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $32,000. Finally, Quarry LP boosted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the subject of several recent research reports. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Truist Financial cut their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Company Profile

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.