Home Depot (NYSE:HD) Shares Down 1.6% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price was down 1.6% on Tuesday . The stock traded as low as $367.00 and last traded at $368.49. Approximately 669,951 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,298,198 shares. The stock had previously closed at $374.65.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $436.50.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a 50-day moving average of $399.01 and a 200 day moving average of $399.78. The firm has a market cap of $345.12 billion, a P/E ratio of 23.60, a P/E/G ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is 61.66%.

Hedge Funds Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc lifted its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its position in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after buying an additional 3,873 shares during the period. Pensionfund Sabic grew its holdings in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB raised its holdings in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock worth $368,542,000 after purchasing an additional 132,967 shares during the period. Finally, Wedmont Private Capital raised its stake in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after buying an additional 1,506 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.

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