Home Depot (NYSE:HD) Shares Down 1.4% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price fell 1.4% during mid-day trading on Thursday . The company traded as low as $387.45 and last traded at $388.25. 1,052,698 shares were traded during trading, a decline of 69% from the average session volume of 3,364,609 shares. The stock had previously closed at $393.82.

Analyst Ratings Changes

Several research analysts recently issued reports on HD shares. Oppenheimer increased their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 24th. Loop Capital raised shares of Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their target price on Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an "overweight" rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.00.

Home Depot Stock Performance

The company has a market cap of $382.46 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. 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's 50-day moving average is $410.78 and its two-hundred day moving average is $379.92.

Home Depot (NYSE:HD - Get Free Report) last released its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period last year, the business posted $3.81 earnings per share. The business's revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot's dividend payout ratio (DPR) is presently 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was 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 owns 77,475 shares of the company's stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Home Depot by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer's stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer's stock worth $3,819,679,000 after purchasing an additional 205,954 shares during the last quarter. International Assets Investment Management LLC raised 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 in the last quarter. FMR LLC lifted its position in Home Depot by 10.1% during the third 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. Finally, Legal & General Group Plc grew its stake in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer's stock worth $2,931,328,000 after buying an additional 100,139 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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.