Home Depot (NYSE:HD) Trading Down 1.6% – Time to Sell?

Shares of The Home Depot, Inc. (NYSE:HD) dropped 1.6% during mid-day trading on Tuesday . The company traded as low as $367.00 and last traded at $368.49. Approximately 669,951 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,298,198 shares. The stock had previously closed at $374.65.

Wall Street Analyst Weigh In

HD has been the topic of a number of analyst reports. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Truist Financial decreased their price objective 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. Evercore ISI boosted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Down 1.6 %

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 business’s 50-day simple moving average is $399.91 and its two-hundred day simple moving average is $400.08. The stock has a market capitalization of $366.04 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC increased its stake in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after buying an additional 257,036 shares during the period. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth $5,032,910,000. Capital Research Global Investors lifted its holdings in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after buying an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.