Home Depot (NYSE:HD) Stock Price Down 0.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) dropped 0.6% during trading on Wednesday . The stock traded as low as $410.86 and last traded at $411.60. Approximately 1,195,653 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,382,240 shares. The stock had previously closed at $414.18.

Analysts Set New Price Targets

HD has been the subject of several research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Evercore ISI dropped their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Truist Financial dropped their price objective on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, DA Davidson raised their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $402.38.

Home Depot Price Performance

The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market cap of $407.15 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company’s fifty day moving average is $377.21 and its two-hundred day moving average is $357.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts forecast 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. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Institutional Investors Weigh In On Home Depot

A number of institutional investors have recently modified their holdings of HD. Fisher Asset Management LLC grew its position in Home Depot by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares during the last quarter. Legal & General Group Plc grew its position in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors 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.