Home Depot (NYSE:HD) Stock Price Down 0.1% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares traded down 0.1% on Thursday . The stock traded as low as $380.73 and last traded at $386.09. 633,686 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,237,515 shares. The stock had previously closed at $386.35.

Analyst Ratings Changes

A number of research analysts have weighed in on HD shares. Piper Sandler reduced their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Stifel Nicolaus increased their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 1.3 %

The firm’s 50 day moving average price is $400.81 and its two-hundred day moving average price is $399.62. The firm has a market capitalization of $378.95 billion, a PE ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. 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 posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.41%. Home Depot’s payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Several institutional investors and hedge funds have recently made changes to their positions in HD. Wood Tarver Financial Group LLC bought a new stake in shares of Home Depot in the fourth quarter worth $283,000. TFR Capital LLC. acquired a new position in Home Depot during the 4th quarter worth $843,000. BridgePort Financial Solutions LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $767,000. Park Square Financial Group LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $1,401,000. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Home Depot during the fourth quarter worth about $1,664,000. 70.86% of the stock is currently owned by hedge funds and other 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.