Home Depot (NYSE:HD) Shares Down 0.1% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares traded down 0.1% during mid-day trading on Tuesday . The stock traded as low as $361.92 and last traded at $366.29. 613,346 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,442,708 shares. The stock had previously closed at $366.49.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Truist Financial reduced their price objective on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wedbush restated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average target price of $435.85.

Home Depot Trading Up 0.7 %

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 cap of $365.74 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The firm's 50-day simple moving average is $388.06 and its 200 day simple moving average is $398.84.

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Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.82 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.50%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is currently 61.66%.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot during the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its holdings in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Northern Trust Corp lifted its position in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in Home Depot during the 4th quarter valued at $471,189,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.