Home Depot (NYSE:HD) Shares Down 1.1% – Should You Sell?

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.1% during mid-day trading on Tuesday . The company traded as low as $419.12 and last traded at $420.31. Approximately 482,872 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 3,111,330 shares. The stock had previously closed at $424.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HD shares. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Wells Fargo & Company raised their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial raised 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. 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. Finally, Mizuho raised their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One research 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. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $416.04 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The stock has a 50-day moving average of $407.42 and a two-hundred day moving average of $391.36.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating 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 analyst estimates of $39.31 billion. During the same quarter last year, the company posted $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.15%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently made changes to their positions in HD. International Assets Investment Management LLC lifted its holdings in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Home Depot during the 3rd quarter valued at about $336,231,000. FMR LLC lifted its holdings in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Home Depot by 37,025.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after buying an additional 479,485 shares during the last quarter. 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.