Home Depot (NYSE:HD) Stock Price Up 0.9% – Here’s What Happened

Shares of The Home Depot, Inc. (NYSE:HD) traded up 0.9% during trading on Monday . The company traded as high as $355.55 and last traded at $354.39. 937,661 shares were traded during trading, a decline of 73% from the average session volume of 3,440,286 shares. The stock had previously closed at $351.31.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Truist Financial lowered their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird lowered their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

The stock’s 50 day moving average is $396.03 and its two-hundred day moving average is $399.40. The stock has a market capitalization of $347.07 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.63%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HD. K.J. Harrison & Partners Inc increased its stake in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares during the last quarter. Pensionfund Sabic raised its stake in Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Swedbank AB lifted its position in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

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.