The Home Depot, Inc. (NYSE:HD – Get Free Report) rose 0.2% during trading on Wednesday . The stock traded as high as $375.41 and last traded at $374.00. Approximately 380,223 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,412,109 shares. The stock had previously closed at $373.18.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on HD shares. Truist Financial reduced their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Citigroup lowered their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and raised their target price for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. Finally, UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $386.33.
Home Depot Price Performance
The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The company has a market capitalization of $369.31 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.48 and a beta of 0.98. The company has a 50 day moving average price of $353.93 and a 200 day moving average price of $353.66.
Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.
Home Depot Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.
Hedge Funds Weigh In On Home Depot
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after buying an additional 347,614 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter worth about $4,311,070,000. Fisher Asset Management LLC increased its holdings in Home Depot by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock valued at $3,050,363,000 after purchasing an additional 195,670 shares during the period. Finally, Legal & General Group Plc raised its position in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after purchasing an additional 100,139 shares during 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.