Home Depot (NYSE:HD) Trading 0.3% Higher

Shares of The Home Depot, Inc. (NYSE:HD) shot up 0.3% during mid-day trading on Monday . The stock traded as high as $364.37 and last traded at $363.20. 510,347 shares were traded during trading, a decline of 85% from the average session volume of 3,415,116 shares. The stock had previously closed at $362.06.

Analysts Set New Price Targets

Several research firms recently issued reports on HD. DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and upped their price target for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. Truist Financial dropped their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada dropped their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Finally, StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $386.33.

Home Depot Price Performance

The company has a market capitalization of $361.27 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The business has a fifty day moving average price of $350.74 and a 200 day moving average price of $353.23.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the business posted $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.47%. Home Depot’s dividend payout ratio is currently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors boosted 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 valued at $5,117,016,000 after purchasing an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Home Depot by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after acquiring an additional 347,614 shares in the last quarter. Norges Bank purchased a new stake in Home Depot in the 4th quarter worth about $4,311,070,000. Fisher Asset Management LLC lifted its stake in Home Depot by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after acquiring an additional 195,670 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Home Depot by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

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.