Home Depot (NYSE:HD) Trading Down 0.1% – Here’s Why

The Home Depot, Inc. (NYSE:HD) dropped 0.1% during trading on Wednesday . The stock traded as low as $408.14 and last traded at $411.18. Approximately 370,341 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 2,995,252 shares. The stock had previously closed at $411.49.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $455.00 in a research note on Friday, November 8th. Finally, TD Cowen lifted their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

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 stock has a market capitalization of $404.68 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The stock has a 50 day moving average of $406.58 and a 200-day moving average of $393.70.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same period last year, the company earned $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The stock was 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 of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on 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 sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. POM Investment Strategies LLC lifted its stake in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in 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 raised its holdings in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares during the period. Finally, Marino Stram & Associates LLC raised its holdings in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the period. 70.86% of the stock is owned by institutional investors.

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.