Home Depot (NYSE:HD) Trading Down 0.7% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares were down 0.7% during mid-day trading on Tuesday . The company traded as low as $423.90 and last traded at $424.17. Approximately 337,319 shares were traded during trading, a decline of 90% from the average daily volume of 3,370,165 shares. The stock had previously closed at $426.96.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HD shares. Guggenheim upped their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Truist Financial boosted their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada upped their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.3 %

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 firm has a market capitalization of $425.31 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The firm has a 50-day moving average of $407.48 and a two-hundred day moving average of $372.20.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.81 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Institutional investors and hedge funds have recently bought and sold shares of the business. Abacus Wealth Partners LLC boosted its holdings in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the period. Insight Inv LLC boosted its holdings in Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its position in Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after acquiring an additional 26 shares during the period. Finally, Ruedi Wealth Management Inc. lifted its holdings in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares during the last quarter. 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.