Home Depot (NYSE:HD) Given New $269.00 Price Target at Citigroup

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Home Depot (NYSE:HD) had its price objective lifted by Citigroup from $246.00 to $269.00 in a research report sent to investors on Friday morning, 24/7 WallStreet reports. Citigroup currently has a buy rating on the home improvement retailer’s stock.

A number of other research analysts also recently issued reports on HD. Wells Fargo & Co restated an outperform rating and set a $235.00 price target (up previously from $230.00) on shares of Home Depot in a research note on Wednesday, August 21st. SunTrust Banks restated a hold rating and set a $208.00 price target on shares of Home Depot in a research note on Wednesday, August 21st. Wedbush restated a neutral rating and set a $230.00 price target (up previously from $190.00) on shares of Home Depot in a research note on Wednesday, August 21st. Credit Suisse Group set a $213.00 target price on Home Depot and gave the company a neutral rating in a research note on Tuesday, August 20th. Finally, KeyCorp reiterated a hold rating on shares of Home Depot in a research note on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $221.39.

NYSE:HD opened at $233.98 on Friday. The stock’s 50 day moving average price is $217.50 and its 200 day moving average price is $203.36. The company has a market capitalization of $256.05 billion, a PE ratio of 23.66, a P/E/G ratio of 2.17 and a beta of 1.05. Home Depot has a 52-week low of $158.09 and a 52-week high of $235.49.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.10. The firm had revenue of $30.84 billion for the quarter, compared to the consensus estimate of $30.98 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. Equities research analysts predict that Home Depot will post 10.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be issued a $1.36 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.32%. Home Depot’s dividend payout ratio is currently 55.01%.

In related news, EVP William G. Lennie sold 9,200 shares of Home Depot stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the completion of the transaction, the executive vice president now directly owns 84,123 shares of the company’s stock, valued at $18,511,266.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Carol B. Tome sold 145,400 shares of Home Depot stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.04, for a total value of $31,848,416.00. Following the transaction, the chief financial officer now directly owns 496,374 shares of the company’s stock, valued at $108,725,760.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,508 shares of company stock valued at $39,076,428. 0.27% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HD. Oregon Public Employees Retirement Fund raised its holdings in shares of Home Depot by 8,331.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after acquiring an additional 21,212,570 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Home Depot by 3,457.2% in the second quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock worth $2,005,132,000 after acquiring an additional 9,370,409 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Home Depot by 21,191.0% in the second quarter. Thoroughbred Financial Services LLC now owns 3,534,097 shares of the home improvement retailer’s stock worth $353,410,000 after acquiring an additional 3,517,498 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Home Depot by 104.6% in the second quarter. Invesco Ltd. now owns 4,531,199 shares of the home improvement retailer’s stock worth $942,353,000 after acquiring an additional 2,316,574 shares during the last quarter. Finally, AMF Pensionsforsakring AB acquired a new position in shares of Home Depot in the second quarter worth $197,884,000. 69.92% of the stock is owned by institutional investors.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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