Home Depot (NYSE:HD) Price Target Cut to $400.00 by Analysts at Wells Fargo & Company

Home Depot (NYSE:HD - Free Report) had its price objective trimmed by Wells Fargo & Company from $425.00 to $400.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the home improvement retailer's stock.

A number of other equities analysts also recently commented on HD. Piper Sandler upgraded shares of Home Depot from a neutral rating to an overweight rating and boosted their target price for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Oppenheimer lowered Home Depot from an outperform rating to a market perform rating in a report on Monday, January 22nd. The Goldman Sachs Group boosted their target price on Home Depot from $347.00 to $393.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. TD Cowen increased their price target on Home Depot from $415.00 to $440.00 and gave the company an outperform rating in a research note on Monday, March 4th. Finally, Citigroup dropped their price target on Home Depot from $415.00 to $395.00 and set a buy rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of Moderate Buy and an average price target of $375.19.

Home Depot Trading Up 2.5 %

NYSE:HD traded up $8.61 during midday trading on Thursday, hitting $347.44. The stock had a trading volume of 3,800,106 shares, compared to its average volume of 3,347,865. The stock has a 50-day moving average of $359.69 and a 200 day moving average of $343.51. The company has a market capitalization of $344.32 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.28 and a beta of 1.01. Home Depot has a one year low of $274.26 and a one year high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The business's revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Home Depot will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot's previous quarterly dividend of $2.09. Home Depot's payout ratio is presently 59.60%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company's stock, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 75,799 shares of the company's stock, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently bought and sold shares of HD. Bare Financial Services Inc purchased a new stake in Home Depot in the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in Home Depot during the fourth quarter worth about $27,000. Keener Financial Planning LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at about $31,000. PFG Private Wealth Management LLC raised its stake in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer's stock valued at $32,000 after acquiring an additional 32 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $35,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

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.