Home Depot (NYSE:HD) Shares Down 0.6% – Time to Sell?

The Home Depot, Inc. (NYSE:HD)’s share price dropped 0.6% on Monday . The company traded as low as $401.01 and last traded at $409.40. Approximately 894,309 shares traded hands during trading, a decline of 71% from the average daily volume of 3,057,055 shares. The stock had previously closed at $411.98.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HD. Truist Financial lifted their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Morgan Stanley increased 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. TD Cowen lifted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Barclays increased their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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 firm has a 50-day moving average of $407.86 and a two-hundred day moving average of $392.76. The company has a market capitalization of $406.46 billion, a PE ratio of 27.80, a PEG ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for 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 quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.81 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

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

Insiders Place Their Bets

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 transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares during the last quarter. AMF Tjanstepension AB lifted its stake in Home Depot by 10.8% in the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after buying an additional 16,650 shares during the last quarter. Czech National Bank boosted its holdings in shares of Home Depot by 7.0% during the third quarter. Czech National Bank now owns 202,002 shares of the home improvement retailer’s stock valued at $81,851,000 after acquiring an additional 13,151 shares during the period. Mirador Capital Partners LP boosted its holdings in shares of Home Depot by 4.6% during the third quarter. Mirador Capital Partners LP now owns 1,163 shares of the home improvement retailer’s stock valued at $471,000 after acquiring an additional 51 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Home Depot by 21.4% during the third quarter. GAMMA Investing LLC now owns 21,823 shares of the home improvement retailer’s stock worth $8,842,000 after acquiring an additional 3,851 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.