Home Depot (NYSE:HD) Price Target Raised to $406.00

Home Depot (NYSE:HD) had its price objective upped by Sanford C. Bernstein from $403.00 to $406.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the home improvement retailer’s stock.

A number of other equities research analysts have also commented on HD. Stifel Nicolaus raised their price objective on shares of Home Depot from $425.00 to $432.00 and gave the stock a “buy” rating in a report on Monday, August 18th. DA Davidson restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Tuesday, August 19th. Robert W. Baird increased their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Wells Fargo & Company boosted their target price on Home Depot from $420.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, Morgan Stanley lifted their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $434.45.

Home Depot Trading Down 0.3%

Shares of HD stock traded down $0.93 during trading hours on Friday, reaching $370.18. The company had a trading volume of 3,251,465 shares, compared to its average volume of 3,504,759. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. Home Depot has a 1-year low of $326.31 and a 1-year high of $439.37. The firm has a market cap of $368.47 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a 50 day moving average of $397.28 and a 200 day moving average of $381.63.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share for the quarter, missing the consensus estimate of $4.69 by ($0.01). The firm had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.60 EPS. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. On average, equities research analysts anticipate that Home Depot will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s dividend payout ratio is 62.50%.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the completion of the sale, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This trade represents a 21.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total value of $1,359,930.54. Following the transaction, the chief financial officer directly owned 45,455 shares in the company, valued at approximately $18,348,365.30. This represents a 6.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mainstay Capital Management LLC ADV acquired a new position in Home Depot in the 2nd quarter valued at $263,000. WealthPlan Investment Management LLC bought a new stake in Home Depot during the 2nd quarter worth $1,149,000. Tower View Wealth Management LLC raised its stake in shares of Home Depot by 4.3% during the second quarter. Tower View Wealth Management LLC now owns 16,196 shares of the home improvement retailer’s stock valued at $5,938,000 after acquiring an additional 671 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Home Depot during the 1st quarter valued at approximately $3,851,000. Finally, Shell Asset Management Co. lifted its stake in shares of Home Depot by 45.2% in the 2nd quarter. Shell Asset Management Co. now owns 48,175 shares of the home improvement retailer’s stock valued at $17,663,000 after purchasing an additional 15,002 shares during the period. 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.