Home Depot (NYSE:HD) Stock Price Down 0.1% – Here’s Why

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 traded hands 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 Ratings Changes

Several research firms have recently weighed in on HD. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Morgan Stanley lifted their price target 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. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. One research 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 company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

The company has a 50 day moving average price of $407.63 and a 200 day moving average price of $383.81. 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 firm has a market cap of $386.41 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.90 and a beta of 1.03.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm posted $3.81 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

Insiders Place Their Bets

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 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 trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on 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 directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc grew its stake in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. increased its holdings in shares of Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares during the period. Swedbank AB lifted its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. LGT Group Foundation raised its position in shares of Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Home Depot by 14.3% in the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after acquiring an additional 84,062 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

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.