Home Depot (NYSE:HD) Shares Up 1.6% - What's Next?

The Home Depot, Inc. (NYSE:HD - Get Free Report) shares rose 1.6% during trading on Tuesday . The company traded as high as $368.39 and last traded at $368.59. Approximately 1,210,846 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 3,423,088 shares. The stock had previously closed at $362.71.

Analyst Ratings Changes

HD has been the subject of several research analyst reports. Mizuho reduced their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Piper Sandler decreased their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Wedbush reiterated an "outperform" rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Price Performance

The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $367.81 billion, a P/E ratio of 25.13, a P/E/G ratio of 4.03 and a beta of 1.05. The stock's 50 day simple moving average is $360.09 and its 200 day simple moving average is $386.81.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the company posted $3.63 EPS. Home Depot's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. Home Depot's payout ratio is 62.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HD. POM Investment Strategies LLC boosted its holdings in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its position in shares of Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock valued at $1,810,000 after acquiring an additional 24 shares during the period. Live Oak Private Wealth LLC lifted its position in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after acquiring an additional 25 shares during the period. Mezzasalma Advisors LLC raised its position in shares of Home Depot by 4.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock worth $255,000 after purchasing an additional 25 shares during the last quarter. Finally, Focused Wealth Management Inc raised its position in shares of Home Depot by 2.4% during the 4th quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer's stock worth $421,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

About Home Depot

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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