Home Depot (NYSE:HD) Shares Down 0.4% – Time to Sell?

The Home Depot, Inc. (NYSE:HD) dropped 0.4% during mid-day trading on Friday . The stock traded as low as $413.24 and last traded at $413.81. Approximately 473,094 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,358,538 shares. The stock had previously closed at $415.60.

Analysts Set New Price Targets

Several analysts have recently commented on HD shares. Oppenheimer increased their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Evercore ISI decreased their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Stifel Nicolaus cut their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Price Performance

The company has a market cap of $411.29 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.88 and a beta of 1.00. The company’s 50-day simple moving average is $383.77 and its 200-day simple moving average is $358.20. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Institutional Trading of Home Depot

Institutional investors have recently added to or reduced their stakes in the stock. Wulff Hansen & CO. grew its position in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Home Depot in the first quarter worth $513,016,000. Price T Rowe Associates Inc. MD increased its stake in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the last quarter. Swedbank AB bought a new stake in Home Depot during the first quarter valued at $301,364,000. Finally, Jennison Associates LLC raised its holdings in shares of Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.