Home Depot (NYSE:HD) Shares Down 0.3% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares fell 0.3% on Friday . The stock traded as low as $391.51 and last traded at $394.07. 383,176 shares traded hands during trading, a decline of 89% from the average session volume of 3,366,325 shares. The stock had previously closed at $395.14.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

The firm has a fifty day moving average of $408.23 and a 200 day moving average of $382.95. 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 company has a market capitalization of $390.25 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.93 and a beta of 1.03.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the company earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. increased its holdings in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Home Depot in the 3rd quarter worth $336,231,000. FMR LLC boosted its holdings in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after purchasing an additional 518,054 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.