The Home Depot, Inc. (HD) to Issue Quarterly Dividend of $2.30 on March 27th

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Thursday, March 13th will be paid a dividend of 2.30 per share by the home improvement retailer on Thursday, March 27th. This represents a $9.20 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, March 13th. This is a 2.2% increase from Home Depot’s previous quarterly dividend of $2.25.

Home Depot has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Home Depot has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Home Depot to earn $15.60 per share next year, which means the company should continue to be able to cover its $9.20 annual dividend with an expected future payout ratio of 59.0%.

Home Depot Price Performance

Shares of NYSE HD opened at $374.13 on Tuesday. The stock has a market capitalization of $371.65 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 4.03 and a beta of 1.09. Home Depot has a 12 month low of $323.77 and a 12 month high of $439.37. The firm’s 50 day simple moving average is $399.91 and its 200-day simple moving average is $400.08. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 EPS. Analysts expect that Home Depot will post 15.13 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Home Depot stock. Brighton Jones LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 36.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,918 shares of the home improvement retailer’s stock after buying an additional 7,203 shares during the quarter. Brighton Jones LLC’s holdings in Home Depot were worth $10,471,000 as of its most recent filing with the SEC. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler reduced their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

About Home Depot

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.