Home Depot (NYSE:HD) Trading Down 0.6% – What’s Next?

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 0.6% on Monday . The company traded as low as $401.01 and last traded at $409.40. Approximately 894,309 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 3,057,055 shares. The stock had previously closed at $411.98.

Analyst Ratings Changes

HD has been the topic of a number of recent research reports. Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The firm has a market cap of $411.29 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50 day moving average is $407.11 and its 200 day moving average is $393.41.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.81 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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

Several hedge funds have recently bought and sold shares of HD. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the third quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at $41,000. 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.