Home Depot (NYSE:HD) Stock Price Down 1.2%

The Home Depot, Inc. (NYSE:HD) shares fell 1.2% during mid-day trading on Thursday . The stock traded as low as $345.79 and last traded at $346.36. 763,467 shares were traded during trading, a decline of 77% from the average session volume of 3,254,672 shares. The stock had previously closed at $350.56.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HD. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Truist Financial increased their price objective on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a report on Monday, April 1st. TD Cowen increased their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.35.

Home Depot Trading Down 1.3 %

The firm has a market capitalization of $339.79 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.31 and a beta of 0.98. The business’s 50-day simple moving average is $369.91 and its two-hundred day simple moving average is $338.08. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the business earned $3.30 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors have recently modified their holdings of the stock. Hoxton Planning & Management LLC raised its position in Home Depot by 3.5% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,829 shares of the home improvement retailer’s stock valued at $702,000 after purchasing an additional 61 shares during the last quarter. Von Berge Wealth Management Group LLC raised its position in Home Depot by 2.1% in the 1st quarter. Von Berge Wealth Management Group LLC now owns 1,776 shares of the home improvement retailer’s stock valued at $681,000 after purchasing an additional 37 shares during the last quarter. Community Bank of Raymore raised its position in Home Depot by 1.3% in the 1st quarter. Community Bank of Raymore now owns 11,300 shares of the home improvement retailer’s stock valued at $4,335,000 after purchasing an additional 150 shares during the last quarter. Retirement Planning Group LLC increased its stake in Home Depot by 18.9% in the 1st quarter. Retirement Planning Group LLC now owns 888 shares of the home improvement retailer’s stock valued at $341,000 after buying an additional 141 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in Home Depot by 1.5% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 41,290 shares of the home improvement retailer’s stock valued at $15,839,000 after buying an additional 598 shares during the period. Hedge funds and other 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.