Home Depot (NYSE:HD) Trading Down 3.1% – Should You Sell?

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 3.1% on Thursday . The stock traded as low as $352.53 and last traded at $351.13. Approximately 1,397,618 shares traded hands during trading, a decline of 58% from the average daily volume of 3,330,968 shares. The stock had previously closed at $362.43.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Truist Financial reduced their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, 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. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Up 1.1 %

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 moving average is $397.43 and its two-hundred day moving average is $399.26. The firm has a market cap of $348.83 billion, a P/E ratio of 23.86, a P/E/G 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 (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.82 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SYM FINANCIAL Corp lifted its stake in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after acquiring an additional 289 shares during the period. Swedbank AB lifted its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after acquiring an additional 141,915 shares during the period. United Bank lifted its stake in shares of Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after acquiring an additional 181 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Home Depot by 6.5% in the 3rd quarter. Zions Bancorporation N.A. now owns 5,954 shares of the home improvement retailer’s stock worth $2,413,000 after acquiring an additional 361 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.