Home Depot (NYSE:HD) Shares Down 1.6% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares traded down 1.6% during mid-day trading on Thursday . The company traded as low as $413.58 and last traded at $414.74. 872,186 shares were traded during trading, a decline of 74% from the average session volume of 3,362,751 shares. The stock had previously closed at $421.38.

Wall Street Analyst Weigh In

Several analysts have recently commented on HD shares. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Telsey Advisory Group upgraded Home Depot from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Morgan Stanley increased their price target on Home Depot from $380.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Finally, Daiwa America upgraded Home Depot to a "hold" rating in a research note on Thursday, August 15th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $426.00.

Home Depot Stock Performance

The business's fifty day moving average price is $411.56 and its 200-day moving average price is $377.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $411.70 billion, a PE ratio of 28.19, a P/E/G ratio of 2.98 and a beta of 1.03.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts' expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.81 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot's payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In related news, 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 transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last 90 days. Corporate insiders own 0.10% of the company's stock.

Institutional Trading of Home Depot

A number of hedge funds have recently bought and sold shares of the company. Lantz Financial LLC boosted its holdings in Home Depot by 1.5% during the 2nd quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer's stock valued at $2,069,000 after acquiring an additional 89 shares during the period. ERn Financial LLC grew its holdings in shares of Home Depot by 2.4% in the second quarter. ERn Financial LLC now owns 2,975 shares of the home improvement retailer's stock worth $1,024,000 after purchasing an additional 69 shares during the last quarter. Home Federal Bank of Tennessee increased its stake in shares of Home Depot by 1.1% in the second quarter. Home Federal Bank of Tennessee now owns 11,739 shares of the home improvement retailer's stock worth $4,041,000 after buying an additional 123 shares during the period. Fiduciary Financial Group LLC bought a new stake in Home Depot during the 2nd quarter valued at $619,000. Finally, Silver Lake Advisory LLC boosted its position in Home Depot by 205.9% during the 2nd quarter. Silver Lake Advisory LLC now owns 3,925 shares of the home improvement retailer's stock valued at $1,351,000 after buying an additional 2,642 shares during the period. 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.