Home Depot (NYSE:HD) Trading Down 0.4% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price fell 0.4% during trading on Monday . The stock traded as low as $423.16 and last traded at $427.34. 592,365 shares traded hands during trading, a decline of 82% from the average session volume of 3,374,557 shares. The stock had previously closed at $429.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Truist Financial increased their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $360.00 to $455.00 in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Down 0.4 %

The company has a market cap of $424.47 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company’s 50 day moving average price is $407.48 and its 200 day moving average price is $372.20. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the company posted $3.81 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.11%. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents 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 valued at $15,624,585 in the last 90 days. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after acquiring an additional 433,126 shares during the period. Fisher Asset Management LLC lifted its stake in Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock valued at $3,819,679,000 after buying an additional 205,954 shares during the period. International Assets Investment Management LLC boosted its holdings in Home Depot by 51,250.1% during 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 buying an additional 8,762,735 shares during the last quarter. FMR LLC increased its stake in shares of Home Depot by 10.1% in 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 acquiring an additional 795,438 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.