Home Depot (NYSE:HD) Stock Price Down 0.1% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s share price traded down 0.1% on Tuesday . The stock traded as low as $361.92 and last traded at $366.29. 613,346 shares were traded during trading, a decline of 82% from the average session volume of 3,442,708 shares. The stock had previously closed at $366.49.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HD. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Up 1.6 %

The company has a market cap of $369.03 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 4.03 and a beta of 1.08. 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 business’s 50 day moving average price is $387.28 and its 200-day moving average price is $398.64.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC raised its holdings in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Norges Bank acquired a new position in Home Depot in the 4th quarter valued at $5,032,910,000. Capital Research Global Investors lifted its position in shares of Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Home Depot by 13.3% during 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 purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.