Home Depot (NYSE:HD) Shares Down 0.8%

The Home Depot, Inc. (NYSE:HD) shares traded down 0.8% on Thursday . The stock traded as low as $326.55 and last traded at $328.08. 738,072 shares were traded during trading, a decline of 78% from the average session volume of 3,368,459 shares. The stock had previously closed at $330.59.

Analysts Set New Price Targets

Several analysts have issued reports on HD shares. Evercore ISI upped their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Mizuho started coverage on shares of Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Friday, May 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 price target on shares of Home Depot in a report on Wednesday, February 14th. Finally, Citigroup lowered their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Price Performance

The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The business’s fifty day moving average is $352.48 and its 200 day moving average is $347.49. The firm has a market capitalization of $324.27 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.32 and a beta of 1.01.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the previous year, the firm earned $3.82 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that The Home Depot, Inc. will post 15.31 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.75%. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HD. Bey Douglas LLC bought a new stake in shares of Home Depot during the 4th quarter worth $913,000. Hartline Investment Corp raised its stake in Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares during the last quarter. Wolf Group Capital Advisors raised its stake in Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after purchasing an additional 430 shares during the last quarter. Alliance Wealth Management Group acquired a new position in Home Depot during the 4th quarter valued at $253,000. Finally, Zullo Investment Group Inc. grew its holdings in Home Depot by 6.6% during the 4th 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. 70.86% of the stock is 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.