Home Depot (NYSE:HD) Shares Down 1.3% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares were down 1.3% during mid-day trading on Monday . The company traded as low as $385.68 and last traded at $387.89. Approximately 412,598 shares changed hands during trading, a decline of 88% from the average daily volume of 3,360,772 shares. The stock had previously closed at $392.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. TD Cowen raised their target price on Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, DA Davidson boosted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research note on Friday, October 25th. One investment 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 stock. Based on data from MarketBeat.com, the company has an average 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 firm has a market capitalization of $386.85 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The firm has a 50-day moving average price of $408.23 and a 200 day moving average price of $383.22.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Wednesday, November 27th. Home Depot's dividend payout ratio is presently 61.14%.

Insider Buying and Selling

In other news, EVP Ann Marie Campbell sold 100 shares of the business'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 transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. Corporate insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Home Depot

Institutional investors have recently modified their holdings of the business. Lantz Financial LLC raised its stake in shares of Home Depot by 1.5% during the second quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer's stock worth $2,069,000 after purchasing an additional 89 shares during the last quarter. Berry Wealth Group LP lifted its stake in shares of Home Depot by 2.5% in the 2nd quarter. Berry Wealth Group LP now owns 12,168 shares of the home improvement retailer's stock worth $4,189,000 after acquiring an additional 294 shares during the period. CCG Wealth Management LLC lifted its stake in shares of Home Depot by 29.5% in the 2nd quarter. CCG Wealth Management LLC now owns 2,200 shares of the home improvement retailer's stock worth $757,000 after acquiring an additional 501 shares during the period. Summit Financial LLC boosted its holdings in shares of Home Depot by 58.9% in the second quarter. Summit Financial LLC now owns 17,922 shares of the home improvement retailer's stock valued at $6,169,000 after acquiring an additional 6,644 shares in the last quarter. Finally, Claro Advisors LLC increased its stake in shares of Home Depot by 3.8% during the second quarter. Claro Advisors LLC now owns 12,665 shares of the home improvement retailer's stock worth $4,360,000 after acquiring an additional 460 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.