Home Depot (NYSE:HD) Shares Down 1.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares were down 1.6% during trading on Friday . The stock traded as low as $356.18 and last traded at $356.83. Approximately 464,498 shares traded hands during trading, a decline of 86% from the average daily volume of 3,210,537 shares. The stock had previously closed at $362.73.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HD shares. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Down 1.2 %

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 business’s fifty day moving average price is $391.01 and its 200 day moving average price is $398.65. The firm has a market capitalization of $356.16 billion, a PE ratio of 24.34, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Institutional Trading of Home Depot

Several hedge funds have recently made changes to their positions in HD. SYM FINANCIAL Corp boosted its stake in shares of Home Depot by 17.8% in the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares during the period. United Bank boosted its position in shares of Home Depot by 4.2% during the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares in the last quarter. Algert Global LLC acquired a new position in shares of Home Depot during the 3rd quarter worth $649,000. Finally, Cynosure Group LLC increased its holdings in shares of Home Depot by 57.4% in the 3rd quarter. Cynosure Group LLC now owns 930 shares of the home improvement retailer’s stock valued at $377,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Company Profile

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.