Home Depot (NYSE:HD) Shares Down 0.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares were down 0.6% during trading on Tuesday . The stock traded as low as $424.88 and last traded at $426.05. Approximately 442,393 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,386,986 shares. The stock had previously closed at $428.67.

Analysts Set New Price Targets

A number of research firms have issued reports on HD. Stifel Nicolaus upped their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Mizuho upped their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. TD Cowen upped their target price on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada raised their price target on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Finally, UBS Group increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

The stock’s 50 day moving average is $404.17 and its two-hundred day moving average is $369.82. The firm has a market capitalization of $425.32 billion, a P/E ratio of 28.94, a P/E/G ratio of 2.92 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS 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 quarter in the prior year, the company posted $3.81 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed 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. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently modified their holdings of HD. Abacus Wealth Partners LLC raised its stake in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Insight Inv LLC boosted its position in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the last quarter. Capital City Trust Co. FL grew its stake in shares of Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the period. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. 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.