UBS Group Trims Home Depot (NYSE:HD) Target Price to $400.00

Home Depot (NYSE:HDFree Report) had its price objective reduced by UBS Group from $411.00 to $400.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

HD has been the subject of a number of other research reports. Truist Financial reissued a buy rating and issued a $417.00 price objective on shares of Home Depot in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on Home Depot from $347.00 to $393.00 and gave the company a buy rating in a research note on Tuesday, February 13th. Wells Fargo & Company reduced their price objective on Home Depot from $425.00 to $400.00 and set an overweight rating for the company in a research note on Thursday, May 9th. TD Cowen lifted their target price on Home Depot from $415.00 to $440.00 and gave the company an outperform rating in a research report on Monday, March 4th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $370.00 target price on shares of Home Depot in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $377.46.

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Home Depot Trading Up 0.4 %

Shares of HD stock opened at $344.21 on Wednesday. The company has a market cap of $341.12 billion, a P/E ratio of 23.09, a PEG ratio of 2.30 and a beta of 1.01. The stock has a 50 day simple moving average of $354.88 and a two-hundred day simple moving average of $346.17. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.40 and a current ratio of 1.34. Home Depot has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HDGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. 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 firm posted $3.82 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Home Depot will post 15.3 earnings per share for the current year.

Home Depot Dividend Announcement

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

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the 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 sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated 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 in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at about $4,311,070,000. International Assets Investment Management LLC increased its position in shares of Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new position in shares of Home Depot during the 1st quarter valued at about $513,016,000. Jennison Associates LLC increased its position in shares of Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

About Home Depot

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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.

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Analyst Recommendations for Home Depot (NYSE:HD)

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