Home Depot (NYSE:HD) Shares Down 0.2% – Here’s Why

Shares of The Home Depot, Inc. (NYSE:HD) dropped 0.2% on Wednesday . The company traded as low as $399.00 and last traded at $401.19. Approximately 726,832 shares changed hands during trading, a decline of 78% from the average daily volume of 3,362,296 shares. The stock had previously closed at $401.85.

Analysts Set New Price Targets

HD has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. UBS Group raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial upped their target price on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, DA Davidson raised their price target on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Stock Down 1.1 %

The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a market cap of $394.28 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The firm’s 50 day moving average price is $387.35 and its 200-day moving average price is $359.15.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently modified their holdings of the business. Abacus Wealth Partners LLC lifted its stake in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. grew its stake in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC lifted its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC lifted its position in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds 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.