Home Depot (NYSE:HD) Shares Down 1.4% – Here’s What Happened

The Home Depot, Inc. (NYSE:HD) shares traded down 1.4% during trading on Tuesday . The stock traded as low as $344.96 and last traded at $345.0450. 5,056,683 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 3,637,253 shares. The stock had previously closed at $349.91.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HD. TD Cowen lowered their target price on shares of Home Depot from $470.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $413.00 price target on shares of Home Depot in a report on Wednesday. UBS Group set a $430.00 price objective on Home Depot in a research note on Wednesday. Guggenheim dropped their price objective on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Oppenheimer reduced their target price on Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a report on Friday, December 5th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $401.47.

Home Depot Stock Performance

The company has a 50-day moving average of $369.05 and a 200 day moving average of $379.25. The firm has a market capitalization of $355.58 billion, a PE ratio of 24.35, a PEG ratio of 6.19 and a beta of 1.06. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same quarter last year, the business posted $3.78 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, December 4th. Home Depot’s payout ratio is currently 62.71%.

Insider Activity at Home Depot

In other news, EVP William D. Bastek sold 2,303 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Home Depot

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Home Depot in the 2nd quarter worth approximately $4,885,603,000. Laurel Wealth Advisors LLC grew its position in Home Depot by 36,207.5% during the second quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock valued at $3,694,552,000 after acquiring an additional 10,049,029 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Home Depot by 16,746.9% during the second quarter. Valeo Financial Advisors LLC now owns 4,537,880 shares of the home improvement retailer’s stock valued at $1,663,768,000 after acquiring an additional 4,510,944 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Home Depot by 60.8% during the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer’s stock worth $4,109,878,000 after acquiring an additional 3,836,051 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Home Depot by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after acquiring an additional 1,494,615 shares during the last quarter. Institutional investors 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.