Home Depot (NYSE:HD) Shares Down 0.6% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) traded down 0.6% during trading on Tuesday . The company traded as low as $399.36 and last traded at $408.01. 979,608 shares traded hands during trading, a decline of 71% from the average session volume of 3,370,344 shares. The stock had previously closed at $410.44.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HD. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Bank of America increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Stock Down 0.8 %

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 $404.24 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.84 and a beta of 1.01. The stock has a fifty day moving average of $400.41 and a 200-day moving average of $367.33.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.81 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

Large investors have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. grew its holdings in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the last quarter. Swedbank AB grew its holdings in shares of Home Depot by 17.1% in the 3rd 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 last quarter. LGT Group Foundation grew its holdings in shares of Home Depot by 121.0% in the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after purchasing an additional 22,668 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

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.