Home Depot (NYSE:HD) Trading Down 1.3% - Here's Why

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) dropped 1.3% on Monday . The stock traded as low as $361.84 and last traded at $363.38. Approximately 722,363 shares traded hands during trading, a decline of 79% from the average daily volume of 3,414,444 shares. The stock had previously closed at $368.29.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HD. Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Royal Bank of Canada decreased their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Down 0.5%

The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a 50 day moving average price of $361.58 and a 200 day moving average price of $384.99. The firm has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.63 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's payout ratio is 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Home Depot

Several institutional investors have recently modified their holdings of HD. Vanguard Group Inc. increased its holdings in Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after buying an additional 720,447 shares during the period. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its stake in Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the period. Finally, Norges Bank acquired a new position in Home Depot in the fourth quarter worth about $5,032,910,000. 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.