Home Depot (NYSE:HD) Trading 0.2% Higher

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0.2% during trading on Tuesday . The stock traded as high as $365.30 and last traded at $363.86. 649,338 shares were traded during trading, a decline of 81% from the average session volume of 3,417,978 shares. The stock had previously closed at $363.07.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Truist Financial decreased their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $352.00 to $395.00 in a report on Wednesday, June 26th. Finally, Loop Capital dropped their target price on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $386.33.

Home Depot Stock Performance

The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company has a market cap of $362.30 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The firm has a fifty day simple moving average of $352.51 and a 200-day simple moving average of $353.44.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 the consensus estimate of $42.57 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be paid a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.46%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Hedge Funds Weigh In On Home Depot

A number of large investors have recently bought and sold shares of the company. 3Chopt Investment Partners LLC acquired a new position in Home Depot during the 2nd quarter worth approximately $1,157,000. SPC Financial Inc. boosted its stake in shares of Home Depot by 14.6% in the second quarter. SPC Financial Inc. now owns 4,481 shares of the home improvement retailer’s stock valued at $1,542,000 after buying an additional 571 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in Home Depot during the second quarter worth $230,000. Ted Buchan & Co purchased a new position in Home Depot in the second quarter worth $327,000. Finally, Regency Capital Management Inc. DE lifted its holdings in Home Depot by 46.5% in the second quarter. Regency Capital Management Inc. DE now owns 4,048 shares of the home improvement retailer’s stock valued at $1,393,000 after acquiring an additional 1,285 shares during the period. Hedge funds and other institutional investors 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.