Home Depot (NYSE:HD) Trading Down 0.1% – What’s Next?

Shares of The Home Depot, Inc. (NYSE:HD) traded down 0.1% during trading on Wednesday . The company traded as low as $387.30 and last traded at $388.99. 2,177,844 shares were traded during trading, a decline of 30% from the average session volume of 3,126,833 shares. The stock had previously closed at $389.43.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. Piper Sandler raised their price objective 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. Finally, Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

The company has a market cap of $385.88 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.90 and a beta of 1.03. The company’s 50 day moving average price is $407.42 and its 200 day moving average price is $383.85. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the firm earned $3.81 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.32%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several hedge funds have recently bought and sold shares of the stock. Fairway Wealth LLC purchased a new stake in Home Depot during the 2nd quarter worth about $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot during the third quarter worth about $41,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the third quarter valued at approximately $46,000. Denver PWM LLC purchased a new position in shares of Home Depot during the second quarter valued at approximately $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot during the second quarter worth approximately $47,000. Hedge funds and other 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.