Home Depot (NYSE:HD) Shares Down 3.7% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) fell 3.7% during mid-day trading on Thursday . The stock traded as low as $351.71 and last traded at $357.29. 1,759,470 shares were traded during trading, a decline of 49% from the average session volume of 3,435,818 shares. The stock had previously closed at $370.89.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Truist Financial decreased their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Trading Down 4.1 %

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 $353.64 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The company’s 50 day simple moving average is $387.28 and its two-hundred day simple moving average is $398.64.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the firm earned $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Institutional Trading of Home Depot

A number of institutional investors have recently added to or reduced their stakes in the business. SYM FINANCIAL Corp lifted its holdings in Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the last quarter. United Bank boosted its holdings in shares of Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Home Depot in the 3rd quarter valued at $76,000. Finally, Motley Fool Asset Management LLC raised its holdings in Home Depot by 4.3% in the 3rd quarter. Motley Fool Asset Management LLC now owns 46,378 shares of the home improvement retailer’s stock worth $18,971,000 after acquiring an additional 1,923 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.