Home Depot (NYSE:HD) Now Covered by Melius Research

Melius Research assumed coverage on shares of Home Depot (NYSE:HD) in a research report released on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $420.00 price target on the home improvement retailer’s stock.

Several other research firms have also weighed in on HD. Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They issued a buy rating and a $426.00 price objective on the stock. Stifel Nicolaus dropped their price objective on Home Depot from $380.00 to $375.00 and set a hold rating for the company in a research note on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a hold rating in a research note on Thursday, August 15th. Loop Capital increased their target price on shares of Home Depot from $330.00 to $360.00 and gave the stock a hold rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada decreased their price objective on shares of Home Depot from $377.00 to $363.00 and set a sector perform rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $391.88.

Home Depot Stock Performance

Shares of NYSE HD opened at $396.74 on Monday. The firm has a market capitalization of $393.41 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 2.71 and a beta of 1.00. Home Depot has a one year low of $274.26 and a one year high of $401.11. The business has a fifty day simple moving average of $366.76 and a 200 day simple moving average of $354.72. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The business’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that Home Depot will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empirical Finance LLC grew its position in shares of Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC increased its stake in Home Depot by 5.5% in the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after purchasing an additional 965 shares in the last quarter. Leeward Financial Partners LLC raised its holdings in Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after purchasing an additional 711 shares during the period. Sanibel Captiva Trust Company Inc. bought a new position in shares of Home Depot during the fourth quarter worth $88,708,000. Finally, Johnson & White Wealth Management LLC grew its holdings in shares of Home Depot by 6.2% in the 1st quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock valued at $1,611,000 after buying an additional 247 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Company Profile

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.