Home Depot (NYSE:HD) Shares Down 0% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) fell 0% on Monday . The company traded as low as $428.03 and last traded at $431.19. 742,183 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,358,713 shares. The stock had previously closed at $431.37.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HD. Evercore ISI boosted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

The business has a 50-day moving average of $410.60 and a 200 day moving average of $375.37. The company has a market cap of $427.03 billion, a PE ratio of 29.29, a PEG ratio of 3.00 and a beta of 1.03. 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 results 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. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $3.81 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following 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 disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 over the last three months. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc lifted its position in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. boosted its position in shares of Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares during the period. Swedbank AB grew its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the last quarter. LGT Group Foundation raised its holdings in shares of Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Home Depot by 14.3% during the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after acquiring an additional 84,062 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.