Home Depot (NYSE:HD) Trading Down 0.6% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price fell 0.6% during mid-day trading on Tuesday . The stock traded as low as $424.88 and last traded at $426.05. 442,393 shares were traded during trading, a decline of 87% from the average session volume of 3,386,986 shares. The stock had previously closed at $428.67.

Analyst Upgrades and Downgrades

HD has been the subject of several recent analyst reports. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho upped their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI raised their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley boosted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Down 0.5 %

The business has a 50 day moving average price of $405.95 and a 200 day moving average price of $370.81. The firm has a market capitalization of $424.48 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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, 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 company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.81 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.11%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, 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. Over the last 90 days, insiders sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Wulff Hansen & CO. lifted its holdings in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the third quarter valued at about $336,231,000. FMR LLC grew its stake in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares during the last quarter. Finally, Sarasin & Partners LLP increased its holdings in shares of Home Depot by 95.2% during the second quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock worth $392,411,000 after buying an additional 556,053 shares in the last quarter. Institutional investors 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.