Home Depot (NYSE:HD) Trading Down 0.6% – Time to Sell?

The Home Depot, Inc. (NYSE:HD) shares fell 0.6% during trading on Wednesday . The stock traded as low as $410.86 and last traded at $411.60. 1,195,653 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 3,382,240 shares. The stock had previously closed at $414.18.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HD shares. Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, UBS Group boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $402.38.

Home Depot Trading Up 0.0 %

The company has a market cap of $410.84 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The business’s 50-day moving average price is $375.22 and its 200 day moving average price is $356.30.

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 period in the previous year, the company earned $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is currently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Empirical Finance LLC boosted its stake in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC boosted its stake in Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares during the period. Leeward Financial Partners LLC grew its holdings in shares of Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock valued at $4,001,000 after purchasing an additional 711 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. purchased a new position in shares of Home Depot in the fourth quarter valued at $88,708,000. 70.86% of the stock is currently owned by institutional investors.

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.