Home Depot (NYSE:HD) Shares Down 1% – What’s Next?

The Home Depot, Inc. (NYSE:HD) shares dropped 1% during trading on Monday . The company traded as low as $387.03 and last traded at $388.87. Approximately 436,116 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,386,483 shares. The stock had previously closed at $392.60.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Mizuho increased their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Guggenheim raised their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

The firm has a market capitalization of $393.51 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business’s 50 day simple moving average is $409.53 and its two-hundred day simple moving average is $382.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.81 earnings per share. Research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the company. Independent Solutions Wealth Management LLC increased its stake in shares of Home Depot by 8.8% in the third quarter. Independent Solutions Wealth Management LLC now owns 8,652 shares of the home improvement retailer’s stock worth $3,506,000 after purchasing an additional 701 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Home Depot by 0.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 125,350 shares of the home improvement retailer’s stock worth $50,792,000 after buying an additional 776 shares during the period. Brass Tax Wealth Management Inc. increased its stake in Home Depot by 30.5% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 788 shares of the home improvement retailer’s stock worth $319,000 after buying an additional 184 shares in the last quarter. Legacy Wealth Management LLC MS raised its holdings in Home Depot by 43.0% during the third quarter. Legacy Wealth Management LLC MS now owns 1,288 shares of the home improvement retailer’s stock valued at $522,000 after acquiring an additional 387 shares during the period. Finally, Alternative Investment Advisors LLC. bought a new stake in Home Depot during the third quarter valued at about $242,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.