Home Depot (NYSE:HD) Trading Down 0.7% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price was down 0.7% during mid-day trading on Tuesday . The company traded as low as $423.90 and last traded at $424.17. Approximately 337,319 shares changed hands during trading, a decline of 90% from the average daily volume of 3,370,165 shares. The stock had previously closed at $426.96.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Melius Research assumed coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Oppenheimer increased their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company increased their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Up 0.3 %

The firm has a market capitalization of $425.31 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. 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 50 day moving average price of $407.48 and a two-hundred day moving average price of $372.20.

Home Depot (NYSE:HD) last issued 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 the consensus estimate of $39.31 billion. During the same period in the previous year, the business earned $3.81 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. International Assets Investment Management LLC boosted 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 valued at $35,575,880,000 after buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. grew its position in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC lifted its holdings 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 worth $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Finally, Sarasin & Partners LLP increased its position in shares of Home Depot by 95.2% during the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after acquiring an additional 556,053 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.