Home Depot (NYSE:HD) Stock Price Down 2.6% - Here's Why

Shares of The Home Depot, Inc. (NYSE:HD - Get Free Report) were down 2.6% during trading on Monday . The company traded as low as $345.90 and last traded at $345.82. Approximately 619,482 shares traded hands during trading, a decline of 83% from the average daily volume of 3,669,549 shares. The stock had previously closed at $355.06.

Analyst Upgrades and Downgrades

A number of analysts have commented on HD shares. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Wedbush reiterated an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on shares of 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. Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Performance

The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50 day moving average price of $363.97 and a 200 day moving average price of $392.40. The stock has a market cap of $355.49 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is presently 61.66%.

Institutional Investors Weigh In On Home Depot

Several institutional investors have recently bought and sold shares of the company. Asset Planning Services Inc. LA ADV boosted its position in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter worth about $5,032,910,000. GAMMA Investing LLC increased its holdings in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $2,212,546,000. Finally, Proficio Capital Partners LLC boosted its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.