The Home Depot, Inc. (NYSE:HD – Get Free Report) dropped 2.3% on Monday . The company traded as low as $374.70 and last traded at $374.85. Approximately 838,895 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,134,943 shares. The stock had previously closed at $383.60.
Analysts Set New Price Targets
HD has been the subject of a number of recent analyst reports. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Royal Bank of Canada boosted their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Wells Fargo & Company boosted their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.15.
Home Depot Trading Down 4.1 %
The company’s 50 day simple moving average is $369.40 and its two-hundred day simple moving average is $335.40. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The company has a market capitalization of $364.73 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.53 and a beta of 0.98.
Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,339.65%. The business had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.39 earnings per share for the current fiscal year.
Home Depot Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.
Insider Buying and Selling
In related news, CEO Edward P. Decker sold 35,987 shares of the firm’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 completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot 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 completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Institutional Trading of Home Depot
Institutional investors have recently modified their holdings of the stock. Congress Wealth Management LLC DE grew its position in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after purchasing an additional 3,162 shares during the period. Psagot Value Holdings Ltd. Israel boosted its position in Home Depot by 8.0% during the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after acquiring an additional 200 shares during the last quarter. Zullo Investment Group Inc. boosted its position in Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after acquiring an additional 504 shares during the last quarter. Clear Harbor Asset Management LLC boosted its position in Home Depot by 1.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 19,563 shares of the home improvement retailer’s stock worth $6,780,000 after acquiring an additional 301 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in Home Depot by 119.8% during the third quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock worth $890,000 after acquiring an additional 1,605 shares during the last quarter. 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.