Home Depot (NYSE:HD) Shares Down 0.1%

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 0.1% during trading on Monday . The stock traded as low as $344.40 and last traded at $346.41. Approximately 459,204 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,378,201 shares. The stock had previously closed at $346.84.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Citigroup cut their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Truist Financial decreased their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Tuesday, May 14th. Finally, Raymond James restated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Home Depot Stock Performance

The stock has a market cap of $350.98 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The stock’s 50-day simple moving average is $337.18 and its two-hundred day simple moving average is $351.78.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 EPS. Analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Activity

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by company insiders.

Institutional Trading of Home Depot

Several hedge funds have recently modified their holdings of the stock. Keynote Financial Services LLC bought a new stake in shares of Home Depot during the first quarter valued at approximately $561,000. IMS Capital Management lifted its holdings in Home Depot by 1.1% in the first quarter. IMS Capital Management now owns 9,326 shares of the home improvement retailer’s stock valued at $3,577,000 after buying an additional 99 shares during the period. Jackson Wealth Management LLC lifted its holdings in Home Depot by 7.1% in the first quarter. Jackson Wealth Management LLC now owns 3,808 shares of the home improvement retailer’s stock valued at $1,461,000 after buying an additional 252 shares during the period. OMC Financial Services LTD acquired a new position in Home Depot in the first quarter valued at approximately $1,384,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Home Depot by 32.3% in the first quarter. EverSource Wealth Advisors LLC now owns 26,096 shares of the home improvement retailer’s stock valued at $10,010,000 after buying an additional 6,371 shares during the period. 70.86% of the stock is owned by 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.