Home Depot (NYSE:HD) Shares Down 2.2%

The Home Depot, Inc. (NYSE:HD)’s share price dropped 2.2% during mid-day trading on Wednesday . The stock traded as low as $350.13 and last traded at $353.37. Approximately 1,072,574 shares traded hands during trading, a decline of 67% from the average daily volume of 3,237,697 shares. The stock had previously closed at $361.42.

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Citigroup boosted their price objective on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. DA Davidson restated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Oppenheimer lowered shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $376.35.

Home Depot Trading Down 0.9 %

The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The stock’s 50-day simple moving average is $370.20 and its 200-day simple moving average is $337.82. The firm has a market capitalization of $344.14 billion, a PE ratio of 23.00, a P/E/G ratio of 2.33 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.30 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Home Depot

A number of hedge funds have recently modified their holdings of HD. VisionPoint Advisory Group LLC bought a new position in Home Depot in the 2nd quarter worth about $26,000. Bare Financial Services Inc bought a new position in Home Depot in the 4th quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new position in Home Depot in the 4th quarter worth about $27,000. Fairfield Bush & CO. bought a new position in Home Depot in the 1st quarter worth about $27,000. Finally, KB Financial Partners LLC bought a new position in Home Depot in the 1st quarter worth about $28,000. 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.