Home Depot (NYSE:HD) Shares Down 1.2% – Should You Sell?

Shares of The Home Depot, Inc. (NYSE:HD) were down 1.2% on Friday . The stock traded as low as $346.28 and last traded at $351.36. Approximately 1,703,551 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 3,196,815 shares. The stock had previously closed at $355.52.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HD shares. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Down 1.0 %

The business has a 50 day simple moving average of $393.97 and a 200-day simple moving average of $398.90. 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 stock has a market capitalization of $349.78 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Several hedge funds and other institutional investors have recently modified their holdings of the company. POM Investment Strategies LLC lifted its stake in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares in the last quarter. Insight Inv LLC lifted its stake in shares of Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares in the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after buying an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC raised its holdings in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after buying an additional 25 shares during the period. 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.