Home Depot (NYSE:HD) Shares Down 0.8% – Should You Sell?

The Home Depot, Inc. (NYSE:HD) shares were down 0.8% during trading on Monday . The stock traded as low as $411.38 and last traded at $411.51. Approximately 633,394 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,354,786 shares. The stock had previously closed at $415.00.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Stifel Nicolaus decreased their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Piper Sandler raised their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $410.67.

Home Depot Price Performance

The firm has a 50-day moving average of $387.35 and a 200-day moving average of $359.15. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market capitalization of $396.29 billion, a P/E ratio of 26.80, a PEG ratio of 2.88 and a beta of 1.00.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. Home Depot’s payout ratio is 60.36%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $40,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter valued at $47,000. 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.