Home Depot (NYSE:HD) Stock Price Down 1% - Here's Why

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares fell 1% on Wednesday . The company traded as low as $400.54 and last traded at $402.63. 592,078 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,368,591 shares. The stock had previously closed at $406.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Telsey Advisory Group raised Home Depot from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $360.00 to $455.00 in a report on Friday, November 8th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their price target on Home Depot from $459.00 to $465.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $426.00.

Home Depot Price Performance

The company has a market capitalization of $398.29 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The stock's 50-day moving average is $401.13 and its two-hundred day moving average is $367.78. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced 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. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot's quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.81 EPS. On average, equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.24%. Home Depot's payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company's 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 owns 20,404 shares of the company's stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

A number of hedge funds have recently bought and sold shares of HD. International Assets Investment Management LLC grew its stake in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer's stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. increased its holdings in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer's stock valued at $509,081,000 after acquiring an additional 1,474,459 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer's stock worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Home Depot in the 3rd quarter worth $336,231,000. Finally, FMR LLC grew its stake in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer's stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Hedge funds and other 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.

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