Home Depot (NYSE:HD) Shares Down 0.2% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s share price was down 0.2% during mid-day trading on Monday . The stock traded as low as $401.25 and last traded at $407.60. Approximately 972,768 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,380,064 shares. The stock had previously closed at $408.36.

Analyst Ratings Changes

HD has been the topic of several analyst reports. Truist Financial lowered their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Guggenheim boosted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $402.38.

Home Depot Stock Performance

The firm has a market capitalization of $410.76 billion, a PE ratio of 27.78, a P/E/G ratio of 2.71 and a beta of 1.00. The business has a 50-day simple moving average of $375.22 and a 200-day simple moving average of $356.30. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is presently 60.36%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wulff Hansen & CO. increased its stake 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 worth $509,081,000 after buying an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the first quarter worth approximately $513,016,000. Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Swedbank AB purchased a new stake in shares of Home Depot in the first quarter valued at approximately $301,364,000. Finally, Jennison Associates LLC grew its stake in Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 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.