Home Depot (NYSE:HD) Shares Down 1.6% – Should You Sell?

The Home Depot, Inc. (NYSE:HD)’s share price fell 1.6% during trading on Thursday . The stock traded as low as $347.00 and last traded at $349.84. 935,355 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 3,479,120 shares. The stock had previously closed at $355.39.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HD shares. Truist Financial reduced their price objective on Home Depot from $437.00 to $391.00 and set a “buy” rating for the company in a report on Tuesday. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company boosted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

Home Depot Trading Down 0.0 %

The stock has a 50 day moving average of $375.29 and a 200 day moving average of $395.97. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $351.51 billion, a P/E ratio of 24.02, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced 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 for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Institutional Trading of Home Depot

Several hedge funds have recently added to or reduced their stakes in HD. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $5,032,910,000. GAMMA Investing LLC grew its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC raised its stake in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. 70.86% of the stock is owned by 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.