Home Depot (NYSE:HD) Stock Price Down 1.4% – Here’s What Happened

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Finally, Bank of America increased their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Performance

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $407.11 billion, a PE ratio of 27.85, a PEG ratio of 4.31 and a beta of 1.05. The company has a 50-day moving average price of $406.84 and a two-hundred day moving average price of $389.32.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the prior year, the firm posted $3.81 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares during the period. Pegasus Asset Management Inc. lifted its position in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the period. Pensionfund Sabic increased its position in shares of Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after buying an additional 3,800 shares during the period. Swedbank AB raised its stake 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 buying an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares during the period. 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.