Home Depot (NYSE:HD) Shares Down 0.4% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares fell 0.4% on Tuesday . The stock traded as low as $386.49 and last traded at $387.87. 499,790 shares traded hands during trading, a decline of 76% from the average session volume of 2,080,584 shares. The stock had previously closed at $389.37.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

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 $383.16 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The stock has a 50-day moving average price of $406.66 and a 200-day moving average price of $384.83.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated 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 transaction, 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 ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

Large investors have recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management acquired a new position in Home Depot during the fourth quarter worth approximately $790,000. Diversified Trust Co lifted its position in Home Depot by 21.5% during the fourth quarter. Diversified Trust Co now owns 47,804 shares of the home improvement retailer’s stock worth $18,596,000 after purchasing an additional 8,464 shares during the period. Bangor Savings Bank lifted its position in shares of Home Depot by 0.8% during the 4th quarter. Bangor Savings Bank now owns 3,609 shares of the home improvement retailer’s stock worth $1,404,000 after buying an additional 30 shares during the last quarter. Canandaigua National Trust Co of Florida lifted its stake in Home Depot by 12.2% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 2,436 shares of the home improvement retailer’s stock valued at $948,000 after purchasing an additional 265 shares during the last quarter. Finally, Fortem Financial Group LLC increased its holdings in Home Depot by 1.8% in the 4th quarter. Fortem Financial Group LLC now owns 1,652 shares of the home improvement retailer’s stock worth $643,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

About Home Depot

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.