Home Depot (NYSE:HD) Shares Down 1.4% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) fell 1.4% on Wednesday . The company traded as low as $411.78 and last traded at $412.61. 753,396 shares changed hands during trading, a decline of 75% from the average session volume of 3,049,912 shares. The stock had previously closed at $418.43.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HD. TD Cowen upped their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

The stock has a market capitalization of $411.77 billion, a PE ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50 day moving average of $407.01 and a 200-day moving average of $389.64.

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, topping the consensus estimate of $3.64 by $0.14. The business 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted $3.81 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors have recently bought and sold shares of the stock. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at about $26,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the 3rd quarter worth $41,000. Sugar Maple Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at $41,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot during the second quarter worth $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.