Home Depot (NYSE:HD) Trading Down 1.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price dropped 1.6% during mid-day trading on Tuesday . The stock traded as low as $396.21 and last traded at $400.04. Approximately 1,547,011 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 3,360,644 shares. The stock had previously closed at $406.40.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Stifel Nicolaus reduced their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Guggenheim increased their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Oppenheimer increased their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Stock Down 0.5 %

The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market capitalization of $396.29 billion, a P/E ratio of 26.80, a P/E/G ratio of 2.88 and a beta of 1.00. The business has a 50-day moving average price of $388.23 and a 200 day moving average price of $359.43.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. On average, equities analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s dividend payout ratio is presently 60.36%.

Institutional Trading of Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Legal & General Group Plc increased its stake in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the period. Finally, Jennison Associates LLC grew its holdings in Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.