Home Depot (NYSE:HD) Given New $318.00 Price Target at HSBC

Home Depot (NYSE:HD) had its price target cut by HSBC from $323.00 to $318.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a reduce rating on the home improvement retailer’s stock.

A number of other research firms also recently commented on HD. Piper Sandler upgraded Home Depot from a neutral rating to an overweight rating and boosted their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Wells Fargo & Company dropped their target price on shares of Home Depot from $425.00 to $400.00 and set an overweight rating for the company in a report on Thursday, May 9th. Raymond James reaffirmed a market perform rating on shares of Home Depot in a report on Wednesday. Robert W. Baird reissued an outperform rating and set a $370.00 price objective on shares of Home Depot in a research note on Wednesday, February 14th. Finally, StockNews.com lowered Home Depot from a buy rating to a hold rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of Moderate Buy and a consensus price target of $377.46.

Home Depot Trading Up 0.4 %

Shares of HD stock opened at $344.21 on Wednesday. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.40. The business’s fifty day moving average price is $354.88 and its 200 day moving average price is $346.17. The firm has a market capitalization of $341.12 billion, a PE ratio of 23.09, a P/E/G ratio of 2.30 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter last year, the business earned $3.82 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Home Depot will post 15.3 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI raised its position in shares of Home Depot by 3.1% during the 1st quarter. Citizens Financial Group Inc. RI now owns 40,273 shares of the home improvement retailer’s stock worth $15,448,000 after buying an additional 1,221 shares in the last quarter. Kozak & Associates Inc. raised its holdings in Home Depot by 2.3% during the first quarter. Kozak & Associates Inc. now owns 3,023 shares of the home improvement retailer’s stock worth $1,160,000 after purchasing an additional 68 shares in the last quarter. Montchanin Asset Management LLC acquired a new stake in Home Depot in the first quarter worth approximately $4,701,000. New Covenant Trust Company N.A. bought a new position in Home Depot during the 1st quarter valued at $491,000. Finally, Plato Investment Management Ltd increased its position in shares of Home Depot by 1,482.0% during the 1st quarter. Plato Investment Management Ltd now owns 20,582 shares of the home improvement retailer’s stock valued at $7,895,000 after purchasing an additional 19,281 shares during the period. 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.