Home Depot (NYSE:HD) Trading Down 1.3% – Here’s Why

The Home Depot, Inc. (NYSE:HD)’s share price was down 1.3% during mid-day trading on Friday . The stock traded as low as $406.88 and last traded at $408.80. Approximately 533,508 shares traded hands during trading, a decline of 82% from the average daily volume of 2,930,276 shares. The stock had previously closed at $414.16.

Analyst Ratings Changes

Several research firms have commented on HD. DA Davidson upped their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Mizuho increased their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The company has a fifty day moving average of $406.58 and a 200-day moving average of $393.70. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $404.68 billion, a PE ratio of 27.68, a P/E/G ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.81 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last 90 days. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. AMF Tjanstepension AB boosted its holdings in shares of Home Depot by 10.8% in the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after acquiring an additional 16,650 shares in the last quarter. SYM FINANCIAL Corp lifted its position in 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 purchasing an additional 289 shares during the period. CWM LLC boosted its holdings in Home Depot by 2.4% in the 3rd quarter. CWM LLC now owns 195,937 shares of the home improvement retailer’s stock valued at $79,394,000 after purchasing an additional 4,666 shares in the last quarter. Wedmont Private Capital raised its stake in shares of Home Depot by 6.2% during the 3rd quarter. Wedmont Private Capital now owns 12,063 shares of the home improvement retailer’s stock worth $4,922,000 after buying an additional 709 shares in the last quarter. Finally, Enterprise Bank & Trust Co lifted its holdings in shares of Home Depot by 0.6% in the 3rd quarter. Enterprise Bank & Trust Co now owns 9,493 shares of the home improvement retailer’s stock valued at $3,847,000 after buying an additional 59 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.