Home Depot (NYSE:HD) Shares Down 1.2%

The Home Depot, Inc. (NYSE:HD - Get Free Report)'s share price traded down 1.2% on Thursday . The stock traded as low as $345.79 and last traded at $346.36. 763,467 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,254,672 shares. The stock had previously closed at $350.56.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Monday, April 1st. Truist Financial boosted their target price on shares of Home Depot from $386.00 to $417.00 and gave the company a "buy" rating in a research report on Monday, April 1st. 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 target price for the company. The Goldman Sachs Group upped their price objective on shares of Home Depot from $347.00 to $393.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird reissued an "outperform" rating and set a $370.00 target price on shares of Home Depot in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $376.35.

Home Depot Stock Performance

The company's fifty day moving average price is $370.45 and its 200 day moving average price is $337.76. The company has a market cap of $344.14 billion, a PE ratio of 23.10, a P/E/G ratio of 2.41 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.30 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot's previous quarterly dividend of $2.09. Home Depot's dividend payout ratio (DPR) is currently 59.60%.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company's stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently bought and sold shares of HD. BCK Partners Inc. purchased a new position in shares of Home Depot during the first quarter worth approximately $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot in the first quarter valued at $27,000. Ergoteles LLC bought a new stake in Home Depot in the first quarter valued at $1,554,000. Equitable Holdings Inc. grew its position in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer's stock worth $4,379,000 after buying an additional 1,007 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer's stock worth $236,865,000 after buying an additional 24,640 shares during the period. 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.