Home Depot (NYSE:HD) Shares Down 1.6% – Should You Sell?

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.6% during trading on Tuesday . The company traded as low as $367.00 and last traded at $368.49. Approximately 669,951 shares changed hands during trading, a decline of 80% from the average daily volume of 3,298,198 shares. The stock had previously closed at $374.65.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Truist Financial decreased their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price 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. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 1.6 %

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company’s fifty day moving average price is $399.91 and its two-hundred day moving average price is $400.08. The firm has a market cap of $366.04 billion, a PE ratio of 25.03, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently made changes to their positions in the stock. K.J. Harrison & Partners Inc increased its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after buying an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares during the period. Pensionfund Sabic raised its holdings in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the last quarter. Swedbank AB raised its holdings in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. 70.86% of the stock is 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.