Home Depot (NYSE:HD) Shares Down 0.6% - Time to Sell?

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s stock price dropped 0.6% on Thursday . The stock traded as low as $415.85 and last traded at $415.96. Approximately 395,488 shares traded hands during trading, a decline of 88% from the average daily volume of 3,364,417 shares. The stock had previously closed at $418.61.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 24th. DA Davidson lifted their target price on shares of Home Depot from $395.00 to $430.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a "buy" rating and a $426.00 price target on the stock. Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $404.69.

Home Depot Price Performance

The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock's 50-day moving average is $383.77 and its 200-day moving average is $358.20. The firm has a market cap of $412.26 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business's revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. Home Depot's dividend payout ratio is currently 60.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot during the second quarter valued at $40,000. Abich Financial Wealth Management LLC boosted its stake in shares of Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer's stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Home Depot in the 1st quarter worth about $49,000. 70.86% of the stock is owned by institutional investors.

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.