Home Depot (NYSE:HD) Shares Down 0% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) fell 0% during trading on Thursday . The stock traded as low as $405.58 and last traded at $410.03. 525,328 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,369,435 shares. The stock had previously closed at $410.19.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HD. Morgan Stanley increased their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised 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 issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.6 %

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The firm has a market cap of $405.51 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The firm has a 50 day simple moving average of $399.51 and a 200 day simple moving average of $366.34.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 earnings per share. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.06 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Geode Capital Management LLC boosted its stake in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after buying an additional 433,126 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Home Depot by 2.2% in the 3rd quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. FMR LLC raised its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. Finally, Legal & General Group Plc lifted its stake in Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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.