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

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $347.00 and last traded at $349.84. Approximately 935,355 shares were traded during trading, a decline of 73% from the average daily volume of 3,479,120 shares. The stock had previously closed at $355.39.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an "outperform" 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 boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Performance

The firm has a fifty day simple moving average of $375.29 and a 200-day simple moving average of $395.97. The stock has a market cap of $354.79 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced 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 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 company's revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $2.82 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.58%. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's payout ratio is presently 61.66%.

Institutional Trading of Home Depot

Hedge funds have recently bought and sold shares of the stock. POM Investment Strategies LLC lifted its position in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock worth $824,000 after buying an additional 24 shares in the last quarter. Center for Financial Planning Inc. increased its position in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock valued at $1,810,000 after acquiring an additional 24 shares during the last quarter. Marino Stram & Associates LLC raised its holdings in Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock worth $431,000 after acquiring an additional 25 shares in the last quarter. Live Oak Private Wealth LLC boosted its position in Home Depot by 0.5% during the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after purchasing an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC grew its stake in Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after purchasing an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.