Home Depot (NYSE:HD) Trading Down 1.6% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares fell 1.6% during mid-day trading on Friday . The company traded as low as $356.18 and last traded at $356.83. 464,498 shares changed hands during trading, a decline of 86% from the average session volume of 3,210,537 shares. The stock had previously closed at $362.73.

Analyst Ratings Changes

A number of research firms have recently commented on HD. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their target price on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Stock Down 1.3 %

The firm’s fifty day moving average is $389.98 and its two-hundred day moving average is $398.80. The firm has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. 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 posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm posted $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HD. Norges Bank bought a new stake in Home Depot during the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC boosted its stake in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $471,189,000. 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.