Home Depot (NYSE:HD) Stock Price Down 0.4% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) dropped 0.4% during mid-day trading on Friday . The company traded as low as $400.11 and last traded at $401.25. Approximately 347,671 shares were traded during trading, a decline of 90% from the average daily volume of 3,355,705 shares. The stock had previously closed at $402.68.

Analysts Set New Price Targets

HD has been the subject of several analyst reports. Sanford C. Bernstein assumed coverage on Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 price objective for the company. Evercore ISI lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Truist Financial upped their price target on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Stock Down 0.6 %

The firm has a market cap of $397.04 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a 50-day simple moving average of $389.08 and a 200-day simple moving average of $359.73. 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 posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the business earned $4.65 EPS. Home Depot’s revenue was up .6% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently made changes to their positions in the company. Abacus Wealth Partners LLC lifted its position in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares during the period. Ruedi Wealth Management Inc. lifted its holdings in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC boosted its position in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp increased its holdings in shares of Home Depot by 1.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.