Home Depot (NYSE:HD) Stock Price Down 1.4% – Should You Sell?

The Home Depot, Inc. (NYSE:HD) fell 1.4% on Wednesday . The stock traded as low as $411.78 and last traded at $412.61. 753,396 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,049,912 shares. The stock had previously closed at $418.43.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Mizuho lifted 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. Guggenheim raised their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Down 2.1 %

The stock has a market capitalization of $407.11 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $406.84 and a 200-day simple moving average of $389.32.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.81 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal 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 issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Home Depot by 2.0% during the third 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 increased its holdings in shares of Home Depot by 2.2% during the 3rd quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Home Depot by 51,250.1% in 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 acquiring an additional 8,762,735 shares during the period. FMR LLC increased its position in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Home Depot by 1.2% in 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 in the last quarter. 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.