Home Depot (NYSE:HD) Shares Down 0.3% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) dropped 0.3% on Friday . The stock traded as low as $391.51 and last traded at $394.07. Approximately 383,176 shares traded hands during trading, a decline of 89% from the average daily volume of 3,366,325 shares. The stock had previously closed at $395.14.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho lifted their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Guggenheim upped their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The company’s 50-day moving average price is $408.67 and its 200-day moving average price is $382.20. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $389.40 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.93 and a beta of 1.03.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the business earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.30%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value 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. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 in the last three months. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the last quarter. Swedbank AB boosted its stake in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. LGT Group Foundation grew its holdings in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Home Depot by 14.3% during the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after purchasing an additional 84,062 shares in the last quarter. Hedge funds and other 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.