Home Depot (NYSE:HD) Shares Down 1.8%

The Home Depot, Inc. (NYSE:HD)’s stock price dropped 1.8% during mid-day trading on Monday . The stock traded as low as $345.24 and last traded at $348.95. Approximately 1,118,909 shares changed hands during trading, a decline of 67% from the average daily volume of 3,394,068 shares. The stock had previously closed at $355.43.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HD shares. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. TD Cowen decreased their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Wedbush restated an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research report on Friday, May 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $384.00.

Home Depot Stock Down 3.3 %

The stock has a market capitalization of $339.53 billion, a PE ratio of 23.06, a PEG ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The business has a 50 day moving average of $347.18 and a two-hundred day moving average of $353.33.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.63%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Several large investors have recently made changes to their positions in the stock. Vaughan David Investments LLC IL raised its holdings in Home Depot by 0.7% in the second quarter. Vaughan David Investments LLC IL now owns 125,590 shares of the home improvement retailer’s stock valued at $43,233,000 after acquiring an additional 815 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in shares of Home Depot by 5.7% in the 2nd quarter. Angeles Wealth Management LLC now owns 11,427 shares of the home improvement retailer’s stock valued at $3,934,000 after acquiring an additional 619 shares during the last quarter. Carson Advisory Inc. raised its position in shares of Home Depot by 1.4% during the 2nd quarter. Carson Advisory Inc. now owns 6,708 shares of the home improvement retailer’s stock worth $2,309,000 after acquiring an additional 90 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. lifted its stake in Home Depot by 40.3% during the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 1,392 shares of the home improvement retailer’s stock worth $479,000 after purchasing an additional 400 shares during the last quarter. Finally, Gryphon Financial Partners LLC boosted its holdings in Home Depot by 11.6% in the second quarter. Gryphon Financial Partners LLC now owns 7,532 shares of the home improvement retailer’s stock valued at $2,593,000 after purchasing an additional 785 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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.