Vetr cut shares of The Home Depot Inc. (NYSE:HD) from a buy rating to a hold rating in a report published on Monday. They currently have $132.30 price objective on the home improvement retailer’s stock.
Several other analysts have also issued reports on HD. Nomura upgraded The Home Depot from a neutral rating to a buy rating and upped their price objective for the company from $140.00 to $155.00 in a research note on Thursday, June 23rd. Zacks Investment Research lowered The Home Depot from a buy rating to a sell rating in a research note on Tuesday, July 19th. RBC Capital Markets restated an outperform rating and issued a $155.00 price objective (up previously from $150.00) on shares of The Home Depot in a research note on Wednesday, August 17th. Citigroup Inc. upped their price objective on The Home Depot from $152.00 to $155.00 and gave the company a buy rating in a research note on Wednesday, August 17th. Finally, Jefferies Group restated a buy rating and issued a $156.00 price objective on shares of The Home Depot in a research note on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $146.86.
Shares of The Home Depot (NYSE:HD) opened at 127.58 on Monday. The firm has a market cap of $157.63 billion, a price-to-earnings ratio of 21.59 and a beta of 0.97. The Home Depot has a 52 week low of $109.62 and a 52 week high of $139.00. The company has a 50-day moving average price of $130.70 and a 200 day moving average price of $132.58.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 EPS for the quarter, meeting the 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 analysts’ expectations of $26.47 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts expect that The Home Depot will post $6.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Tuesday, August 30th. The Home Depot’s dividend payout ratio (DPR) is presently 46.54%.
In related news, EVP Teresa Wynn Roseborough sold 11,671 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $136.03, for a total value of $1,587,606.13. Following the completion of the sale, the executive vice president now directly owns 44,107 shares of the company’s stock, valued at approximately $5,999,875.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matt Carey sold 29,357 shares of the business’s 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 sale, the executive vice president now directly owns 88,872 shares of the company’s stock, valued at $12,109,698.72. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. increased its position in 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 worth $32,480,000 after buying an additional 35,306,300 shares during the period. Bank of Montreal Can bought a new position in The Home Depot during the second quarter worth about $337,042,000. Emerald Acquisition Ltd. bought a new position in The Home Depot during the second quarter worth about $198,627,000. Jennison Associates LLC increased its position in 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 worth $1,015,650,000 after buying an additional 1,483,893 shares during the period. Finally, Marsico Capital Management LLC increased its position in 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 worth $199,055,000 after buying an additional 1,280,239 shares during the period. 71.86% of the stock is owned by institutional investors and hedge funds.
The Home Depot Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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