Home Depot (NYSE:HD) Stock Price Down 3% – What’s Next?

The Home Depot, Inc. (NYSE:HD) fell 3% on Wednesday . The company traded as low as $402.12 and last traded at $403.95. 870,661 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 2,862,768 shares. The stock had previously closed at $416.36.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HD shares. DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI increased their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Wells Fargo & Company upped their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday. One 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $428.85.

Home Depot Stock Down 2.4 %

The firm has a market capitalization of $403.50 billion, a P/E ratio of 27.60, a P/E/G ratio of 4.22 and a beta of 1.05. The company has a fifty day simple moving average of $405.62 and a 200 day simple moving average of $395.38. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly 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. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.81 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on 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 owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % 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 over the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently modified their holdings of the company. Joseph Group Capital Management raised its position in Home Depot by 10.1% in the fourth quarter. Joseph Group Capital Management now owns 12,026 shares of the home improvement retailer’s stock worth $4,678,000 after acquiring an additional 1,103 shares during the period. California Public Employees Retirement System increased its stake in shares of Home Depot by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 2,494,928 shares of the home improvement retailer’s stock worth $970,502,000 after purchasing an additional 36,876 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $934,000. Charter Research & Investment Group Inc. boosted its holdings in Home Depot by 6.4% in the 4th quarter. Charter Research & Investment Group Inc. now owns 9,886 shares of the home improvement retailer’s stock worth $3,846,000 after buying an additional 597 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Home Depot by 5.1% in the 4th quarter. Schroder Investment Management Group now owns 1,474,269 shares of the home improvement retailer’s stock worth $574,125,000 after buying an additional 71,364 shares during the period. 70.86% of the stock is owned by institutional investors.

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.