Home Depot (NYSE:HD) Shares Down 1.1% – What’s Next?

Shares of The Home Depot, Inc. (NYSE:HD) dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $419.12 and last traded at $420.31. Approximately 482,872 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,111,330 shares. The stock had previously closed at $424.87.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays upped their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Bank of America lifted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

The firm has a 50 day moving average price of $407.93 and a 200 day moving average price of $391.93. 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 stock has a market cap of $411.81 billion, a P/E ratio of 28.16, a P/E/G ratio of 4.32 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 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the firm earned $3.81 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal 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 2.17%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction 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. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have 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 added to or reduced their stakes in HD. POM Investment Strategies LLC increased its position in shares of Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after buying an additional 24 shares during the period. Center for Financial Planning Inc. grew its stake in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after acquiring an additional 24 shares in the last quarter. Abacus Wealth Partners LLC grew its stake in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the period. Finally, Insight Inv LLC lifted its stake in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.