The Goldman Sachs Group Cuts Home Depot (NYSE:HD) Price Target to $406.00

Home Depot (NYSE:HD) had its price objective decreased by The Goldman Sachs Group from $444.00 to $406.00 in a research note published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the home improvement retailer’s stock.

Several other research analysts have also recently weighed in on the stock. Truist Financial set a $379.00 price target on shares of Home Depot in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Home Depot in a research note on Thursday, November 13th. Morgan Stanley lowered their target price on Home Depot from $430.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday. DZ Bank restated a “sell” rating on shares of Home Depot in a report on Tuesday. Finally, Sanford C. Bernstein increased their price objective on Home Depot from $403.00 to $406.00 and gave the stock a “market perform” rating in a report on Friday, November 7th. Twenty-one analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $410.24.

Home Depot Stock Up 3.3%

Shares of Home Depot stock opened at $343.22 on Wednesday. The company has a market capitalization of $341.64 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company has a debt-to-equity ratio of 4.31, a current ratio of 1.15 and a quick ratio of 0.34. The business has a 50-day moving average of $385.34 and a two-hundred day moving average of $381.00. Home Depot has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The business had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same quarter last year, the firm earned $3.78 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. As a group, equities analysts predict that Home Depot will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $2.30 dividend. The ex-dividend date is Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.7%. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Insider Transactions at Home Depot

In related news, EVP William D. Bastek sold 2,303 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the completion of the transaction, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of institutional investors and hedge funds have recently made changes to their positions in HD. Centerpoint Advisory Group increased its holdings in Home Depot by 0.8% during the second quarter. Centerpoint Advisory Group now owns 3,163 shares of the home improvement retailer’s stock worth $1,160,000 after buying an additional 26 shares during the last quarter. Disciplined Investors L.L.C. grew its position in shares of Home Depot by 2.3% in the 2nd quarter. Disciplined Investors L.L.C. now owns 1,178 shares of the home improvement retailer’s stock valued at $432,000 after acquiring an additional 26 shares during the period. Brio Consultants LLC increased its stake in shares of Home Depot by 4.7% during the 2nd quarter. Brio Consultants LLC now owns 574 shares of the home improvement retailer’s stock worth $210,000 after purchasing an additional 26 shares during the last quarter. Emprise Bank raised its holdings in shares of Home Depot by 0.8% in the 3rd quarter. Emprise Bank now owns 3,135 shares of the home improvement retailer’s stock valued at $1,270,000 after purchasing an additional 26 shares during the period. Finally, Stegent Equity Advisors Inc. lifted its stake in Home Depot by 2.7% in the 3rd quarter. Stegent Equity Advisors Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after purchasing an additional 26 shares during the last quarter. 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.