Home Depot (NYSE:HD) Stock Price Down 2.1% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares were down 2.1% during mid-day trading on Friday . The company traded as low as $320.74 and last traded at $321.5430. Approximately 3,943,687 shares were traded during trading, a decline of 8% from the average daily volume of 4,296,085 shares. The stock had previously closed at $328.43.

Analysts Set New Price Targets

A number of research firms have weighed in on HD. Wolfe Research increased their target price on Home Depot from $413.00 to $414.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Gordon Haskett boosted their target price on shares of Home Depot from $330.00 to $370.00 and gave the company a “hold” rating in a research note on Wednesday, February 11th. BNP Paribas Exane cut their price target on shares of Home Depot from $391.00 to $348.00 and set a “neutral” rating on the stock in a report on Tuesday. UBS Group reaffirmed an “outperform” rating on shares of Home Depot in a research note on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Home Depot from $381.00 to $390.00 and gave the company a “market perform” rating in a report on Wednesday, February 25th. Twenty analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $414.52.

Home Depot Trading Down 2.1%

The firm has a market capitalization of $320.26 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The stock has a 50-day simple moving average of $367.82 and a two-hundred day simple moving average of $371.98. The company has a current ratio of 1.06, a quick ratio of 0.26 and a debt-to-equity ratio of 3.62.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.20. The business had revenue of $38.20 billion for the quarter, compared to the consensus estimate of $38.01 billion. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 EPS. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 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 26th. Shareholders of record on Thursday, March 12th were issued a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, March 12th. This is a positive change from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is currently 65.50%.

Insider Buying and Selling

In other news, CFO Richard V. Mcphail sold 2,550 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $368.89, for a total value of $940,669.50. Following the completion of the sale, the chief financial officer owned 44,566 shares in the company, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC boosted its position in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Home Depot by 7.1% in the second quarter. Sivia Capital Partners LLC now owns 2,598 shares of the home improvement retailer’s stock worth $952,000 after purchasing an additional 173 shares in the last quarter. Schnieders Capital Management LLC. raised its holdings in Home Depot by 14.1% in the second quarter. Schnieders Capital Management LLC. now owns 11,587 shares of the home improvement retailer’s stock worth $4,248,000 after purchasing an additional 1,433 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Home Depot during the second quarter valued at about $549,000. Finally, Garner Asset Management Corp lifted its position in shares of Home Depot by 8.7% during the second quarter. Garner Asset Management Corp now owns 1,616 shares of the home improvement retailer’s stock valued at $592,000 after buying an additional 130 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.