Home Depot (NYSE:HD) Stock Price Up 0.3% – Here’s Why

The Home Depot, Inc. (NYSE:HD) shares shot up 0.3% during mid-day trading on Wednesday . The company traded as high as $397.51 and last traded at $396.24. 373,986 shares were traded during mid-day trading, a decline of 89% from the average session volume of 3,347,656 shares. The stock had previously closed at $395.07.

Analyst Ratings Changes

A number of brokerages recently issued reports on HD. Evercore ISI decreased their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Guggenheim raised their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Price Performance

The company has a market capitalization of $389.94 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.72 and a beta of 1.00. The company has a 50-day moving average price of $392.17 and a 200-day moving average price of $361.25. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.57%.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. increased its holdings in shares of Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Home Depot during the first quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Home Depot during the first quarter valued at approximately $301,364,000. 70.86% of the stock is owned by institutional investors and hedge funds.

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.