Home Depot (NYSE:HD) Trading Down 0.9% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded down 0.9% during trading on Monday . The stock traded as low as $393.84 and last traded at $393.11. 563,934 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,213,647 shares. The stock had previously closed at $396.60.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on Home Depot from $455.00 to $435.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Evercore ISI increased their price objective on Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price target on Home Depot from $375.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $436.50.

Home Depot Trading Down 2.1 %

The firm has a 50 day simple moving average of $401.00 and a 200 day simple moving average of $399.71. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $379.02 billion, a PE ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.41%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot's dividend payout ratio is presently 61.66%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of HD. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth $28,000. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth $32,000. Finally, Quarry LP raised its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is owned by 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.