Brokerages Set The Home Depot Inc. (HD) PT at $146.19
Shares of The Home Depot Inc. (NYSE:HD) have received a consensus rating of “Buy” from the twenty-six analysts that are currently covering the firm. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $146.19.
A number of brokerages recently issued reports on HD. Stifel Nicolaus began coverage on The Home Depot in a research note on Tuesday, August 2nd. They set a “buy” rating and a $157.00 price target for the company. Wedbush reissued a “neutral” rating and set a $140.00 price target (down from $145.00) on shares of The Home Depot in a research note on Tuesday, August 16th. JPMorgan Chase & Co. reissued a “buy” rating and set a $142.00 price target on shares of The Home Depot in a research note on Tuesday, August 16th. Zacks Investment Research lowered The Home Depot from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Deutsche Bank AG raised their price target on The Home Depot from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th.
In related news, CFO Carol B. Tome sold 97,610 shares of The Home Depot stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $135.35, for a total value of $13,211,513.50. Following the completion of the transaction, the chief financial officer now owns 644,831 shares in the company, valued at approximately $87,277,875.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Matt Carey sold 29,357 shares of The Home Depot stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $136.26, for a total value of $4,000,184.82. Following the completion of the transaction, the executive vice president now owns 88,872 shares of the company’s stock, valued at approximately $12,109,698.72. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. raised its position in shares of The Home Depot by 37,680.1% in the second quarter. Cohen & Steers Inc. now owns 35,400,000 shares of the home improvement retailer’s stock valued at $32,480,000 after buying an additional 35,306,300 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of The Home Depot during the second quarter valued at $337,042,000. Emerald Acquisition Ltd. acquired a new position in shares of The Home Depot during the second quarter valued at $198,627,000. Jennison Associates LLC raised its position in shares of The Home Depot by 22.9% in the second quarter. Jennison Associates LLC now owns 7,954,031 shares of the home improvement retailer’s stock valued at $1,015,650,000 after buying an additional 1,483,893 shares in the last quarter. Finally, Marsico Capital Management LLC raised its position in shares of The Home Depot by 605.0% in the first quarter. Marsico Capital Management LLC now owns 1,491,833 shares of the home improvement retailer’s stock valued at $199,055,000 after buying an additional 1,280,239 shares in the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.
Shares of The Home Depot (NYSE:HD) opened at 126.42 on Wednesday. The Home Depot has a 52 week low of $109.62 and a 52 week high of $139.00. The stock has a market capitalization of $156.20 billion, a PE ratio of 21.40 and a beta of 0.97. The company has a 50-day moving average price of $129.05 and a 200 day moving average price of $132.39.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.97. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The firm earned $26.47 billion during the quarter, compared to analyst estimates of $26.47 billion. During the same period last year, the company earned $1.71 EPS. The Home Depot’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts forecast that The Home Depot will post $6.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.69 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.76 annualized dividend and a dividend yield of 2.18%. The Home Depot’s dividend payout ratio (DPR) is presently 46.54%.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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