Home Depot (NYSE:HD) Stock Price Down 0.5% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price fell 0.5% during mid-day trading on Tuesday . The company traded as low as $407.08 and last traded at $408.75. 553,121 shares changed hands during trading, a decline of 84% from the average session volume of 3,357,994 shares. The stock had previously closed at $410.71.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HD. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Guggenheim upped their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Down 0.9 %

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 fifty day simple moving average of $411.84 and a two-hundred day simple moving average of $379.27. The firm has a market cap of $404.33 billion, a PE ratio of 27.77, a PEG ratio of 2.93 and a beta of 1.03.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share 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 business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 EPS. The business’s revenue was up 6.6% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is presently 61.14%.

Insider Activity

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter worth $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the 2nd quarter worth $33,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the 3rd quarter worth $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter worth $46,000. Finally, Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter worth $40,000. Institutional investors 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.