Home Depot (NYSE:HD) Shares Down 0.6% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares were down 0.6% on Monday . The company traded as low as $401.01 and last traded at $409.40. Approximately 894,309 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,057,055 shares. The stock had previously closed at $411.98.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Royal Bank of Canada upped their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. TD Cowen lifted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Morgan Stanley increased their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $406.46 billion, a P/E ratio of 27.80, a PEG ratio of 4.34 and a beta of 1.05. The stock’s 50 day moving average is $407.86 and its two-hundred day moving average is $392.76.

Home Depot (NYSE:HD) last issued 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 return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the firm posted $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th 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 was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s 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 directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at about $41,000. Sugar Maple Asset Management LLC bought a new position in Home Depot during the fourth quarter worth about $41,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 3rd quarter worth about $46,000. 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.