Home Depot (NYSE:HD) Stock Price Down 0.5% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price fell 0.5% during trading on Friday . The stock traded as low as $385.81 and last traded at $386.64. 451,277 shares changed hands during trading, a decline of 68% from the average session volume of 1,398,664 shares. The stock had previously closed at $388.46.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. DA Davidson increased their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50 day moving average of $407.14 and a 200-day moving average of $383.88. The stock has a market capitalization of $386.57 billion, a PE ratio of 26.44, a P/E/G ratio of 2.90 and a beta of 1.03.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the company posted $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced 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 yield of 2.31%. 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 Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last 90 days. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

A number of hedge funds have recently made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth about $25,000. Denver PWM LLC acquired a new position in shares of Home Depot in the 2nd quarter worth approximately $40,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the 3rd quarter worth approximately $41,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the second quarter worth $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.