Home Depot (NYSE:HD) Stock Price Down 1.6% - Here's What Happened

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares were down 1.6% on Tuesday . The stock traded as low as $367.00 and last traded at $368.49. Approximately 669,951 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,298,198 shares. The stock had previously closed at $374.65.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on Home Depot from $455.00 to $435.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $436.50.

Home Depot Stock Up 0.7 %

The firm's 50-day moving average price is $398.19 and its 200 day moving average price is $399.42. The firm has a market cap of $347.26 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same period in the previous year, the business earned $2.82 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is 61.66%.

Institutional Investors Weigh In On Home Depot

A number of large investors have recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new position in Home Depot in the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $32,000. Finally, Quarry LP increased its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

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.