Home Depot (NYSE:HD) Trading Down 0.3% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) fell 0.3% during trading on Wednesday . The company traded as low as $416.80 and last traded at $417.57. 445,279 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 3,092,884 shares. The stock had previously closed at $418.83.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HD. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. TD Cowen raised their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

The stock has a 50 day moving average of $408.02 and a two-hundred day moving average of $392.08. 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 stock has a market cap of $409.13 billion, a PE ratio of 27.98, a PEG ratio of 4.35 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The firm 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%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.81 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. Home Depot’s payout ratio is presently 61.14%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’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 sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

A number of institutional investors have recently added to or reduced their stakes in the business. Pegasus Asset Management Inc. lifted its holdings in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the last quarter. Pensionfund Sabic lifted its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares during the last quarter. Swedbank AB boosted its holdings in shares of Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the period. Wedmont Private Capital raised its holdings in Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.