Home Depot (NYSE:HD) Trading Down 0.1% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 0.1% during trading on Tuesday . The stock traded as low as $361.92 and last traded at $366.29. Approximately 613,346 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,442,708 shares. The stock had previously closed at $366.49.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Stock Performance

The stock has a market capitalization of $369.03 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The company has a 50 day simple moving average of $387.28 and a 200-day simple moving average of $398.64. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the company. Lederer & Associates Investment Counsel CA increased its holdings in Home Depot by 10.7% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 2,929 shares of the home improvement retailer’s stock worth $1,073,000 after purchasing an additional 284 shares in the last quarter. Hobart Private Capital LLC grew its holdings in Home Depot by 6.7% during the first quarter. Hobart Private Capital LLC now owns 555 shares of the home improvement retailer’s stock worth $203,000 after buying an additional 35 shares in the last quarter. Trust Co of the South raised its position in Home Depot by 1.0% in the 1st quarter. Trust Co of the South now owns 3,749 shares of the home improvement retailer’s stock valued at $1,374,000 after buying an additional 36 shares during the last quarter. Modus Advisors LLC lifted its stake in Home Depot by 1.1% during the 1st quarter. Modus Advisors LLC now owns 9,344 shares of the home improvement retailer’s stock valued at $3,424,000 after acquiring an additional 100 shares in the last quarter. Finally, First Financial Bank Trust Division boosted its holdings in Home Depot by 1.6% during the 1st quarter. First Financial Bank Trust Division now owns 2,866 shares of the home improvement retailer’s stock worth $1,050,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

About Home Depot

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.