Wolfe Research Cuts Home Depot (NYSE:HD) Price Target to $414.00

Home Depot (NYSE:HD) had its price target decreased by Wolfe Research from $415.00 to $414.00 in a report issued on Wednesday,MarketScreener reports. Wolfe Research currently has an outperform rating on the home improvement retailer’s stock.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $424.00 target price on shares of Home Depot in a report on Wednesday, December 10th. Evercore reduced their price target on Home Depot from $450.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Daiwa Securities Group upped their price objective on Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Zacks Research downgraded shares of Home Depot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 27th. Finally, Oppenheimer reduced their target price on shares of Home Depot from $420.00 to $405.00 and set a “market perform” rating on the stock in a report on Friday, December 5th. Twenty-one equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $404.47.

Home Depot Price Performance

Shares of NYSE:HD opened at $385.01 on Wednesday. Home Depot has a one year low of $326.31 and a one year high of $426.75. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The company has a market cap of $383.28 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 13.65 and a beta of 1.08. The firm has a 50 day simple moving average of $362.81 and a 200 day simple moving average of $379.50.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. During the same period in the previous year, the firm posted $3.78 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.478-14.478 EPS. Research analysts predict that Home Depot will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s dividend payout ratio is 62.71%.

Insider Buying and Selling

In other news, EVP Ann Marie Campbell sold 145 shares of Home Depot stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the transaction, the executive vice president directly owned 12,320 shares of the company’s stock, valued at approximately $4,413,763.20. This trade represents a 1.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 2,872 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total value of $1,000,949.44. Following the completion of the transaction, the executive vice president directly owned 13,196 shares in the company, valued at $4,599,069.92. This represents a 17.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,963 shares of company stock valued at $1,748,845 over the last quarter. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. Vanguard Group Inc. boosted its stake in Home Depot by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer’s stock worth $34,284,672,000 after acquiring an additional 1,325,748 shares in the last quarter. State Street Corp increased its stake in Home Depot by 0.7% in the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock valued at $16,871,246,000 after purchasing an additional 300,352 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Home Depot by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after purchasing an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Home Depot by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock worth $5,341,724,000 after purchasing an additional 153,582 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $4,885,603,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Company Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.