Home Depot (NYSE:HD) Stock Price Down 1.3% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) was down 1.3% during mid-day trading on Tuesday . The stock traded as low as $351.16 and last traded at $349.45. Approximately 533,280 shares changed hands during trading, a decline of 83% from the average daily volume of 3,194,746 shares. The stock had previously closed at $354.13.

Analyst Ratings Changes

A number of brokerages recently weighed in on HD. Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $346.74 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 4.03 and a beta of 1.09. The stock’s 50-day simple moving average is $396.73 and its 200 day simple moving average is $399.54.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.64%. Home Depot’s payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently bought and sold shares of HD. K.J. Harrison & Partners Inc increased its stake in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares during the period. Pensionfund Sabic raised its stake in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Swedbank AB boosted its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. Finally, Wedmont Private Capital grew its stake in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other 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.