Home Depot (NYSE:HD) Shares Down 0.2% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price was down 0.2% during trading on Friday . The stock traded as low as $410.76 and last traded at $413.73. Approximately 427,267 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,117,396 shares. The stock had previously closed at $414.39.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HD shares. Guggenheim raised their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. DA Davidson lifted their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Evercore ISI lifted their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

The stock’s 50-day simple moving average is $407.01 and its two-hundred day simple moving average is $389.64. The firm has a market cap of $411.59 billion, a P/E ratio of 28.15, a PEG ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the 3rd quarter valued at approximately $41,000. Sugar Maple Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot during the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds 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.