Truist Financial Trims Home Depot (NYSE:HD) Target Price to $382.00

Home Depot (NYSE:HDGet Rating) had its price objective lowered by Truist Financial from $400.00 to $382.00 in a report released on Wednesday morning, The Fly reports. Truist Financial currently has a buy rating on the home improvement retailer’s stock.

HD has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Home Depot from $347.00 to $300.00 in a report on Friday, November 11th. Cowen initiated coverage on shares of Home Depot in a report on Wednesday, October 19th. They issued an outperform rating and a $350.00 target price for the company. Piper Sandler cut their target price on shares of Home Depot from $327.00 to $323.00 and set a neutral rating for the company in a research report on Wednesday. Credit Suisse Group dropped their price target on shares of Home Depot from $450.00 to $390.00 in a research note on Wednesday. Finally, UBS Group lifted their price objective on Home Depot from $360.00 to $370.00 and gave the company a buy rating in a research report on Wednesday, August 17th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $346.29.

Home Depot Stock Performance

HD opened at $313.18 on Wednesday. Home Depot has a 1-year low of $264.51 and a 1-year high of $420.61. The company has a debt-to-equity ratio of 32.16, a current ratio of 1.39 and a quick ratio of 0.25. The business has a 50 day moving average price of $286.40 and a two-hundred day moving average price of $292.58. The company has a market capitalization of $320.61 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The firm had revenue of $38.87 billion for the quarter, compared to analyst estimates of $37.96 billion. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.92 earnings per share. Research analysts predict that Home Depot will post 16.64 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, November 30th. Home Depot’s dividend payout ratio (DPR) is currently 45.81%.

Home Depot announced that its board has initiated a stock repurchase program on Thursday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Paula Santilli purchased 1,583 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was purchased at an average price of $315.80 per share, with a total value of $499,911.40. Following the acquisition, the director now directly owns 1,583 shares in the company, valued at approximately $499,911.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Matt Carey sold 12,650 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula Santilli acquired 1,583 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were bought at an average cost of $315.80 per share, for a total transaction of $499,911.40. Following the completion of the acquisition, the director now directly owns 1,583 shares of the company’s stock, valued at approximately $499,911.40. The disclosure for this purchase can be found here. Insiders have sold 15,650 shares of company stock worth $4,923,859 in the last ninety days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Home Depot

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd increased its holdings in shares of Home Depot by 20.4% during the first quarter. IFM Investors Pty Ltd now owns 166,390 shares of the home improvement retailer’s stock worth $49,806,000 after buying an additional 28,209 shares in the last quarter. BCK Partners Inc. acquired a new stake in Home Depot during the 1st quarter valued at $2,933,000. Blossom Wealth Management raised its position in Home Depot by 8.9% in the 1st quarter. Blossom Wealth Management now owns 1,687 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 138 shares during the last quarter. West Chester Capital Advisors Inc. boosted its stake in Home Depot by 6.9% in the first quarter. West Chester Capital Advisors Inc. now owns 2,911 shares of the home improvement retailer’s stock worth $871,000 after purchasing an additional 187 shares in the last quarter. Finally, Hardy Reed LLC grew its holdings in shares of Home Depot by 2.0% during the first quarter. Hardy Reed LLC now owns 3,601 shares of the home improvement retailer’s stock worth $1,078,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 68.66% of the company’s stock.

Home Depot Company Profile

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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 décor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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