Melius Research Initiates Coverage on Home Depot (NYSE:HD)

Melius Research assumed coverage on shares of Home Depot (NYSE:HD) in a research note published on Monday morning, MarketBeat 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 recently weighed in on HD. Truist Financial lowered their price objective on shares of Home Depot from $396.00 to $395.00 and set a buy rating on the stock in a research report on Wednesday, August 14th. Daiwa America raised Home Depot to a hold rating in a research report on Thursday, August 15th. Royal Bank of Canada decreased their price objective on Home Depot from $377.00 to $363.00 and set a sector perform rating for the company in a research report on Wednesday, August 14th. DA Davidson upped their target price on Home Depot from $395.00 to $430.00 and gave the company a buy rating in a report on Tuesday, September 3rd. Finally, Evercore ISI decreased their price target on shares of Home Depot from $415.00 to $400.00 and set an outperform rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $391.88.

Home Depot Stock Down 0.0 %

Shares of Home Depot stock opened at $396.74 on Monday. Home Depot has a 12-month low of $274.26 and a 12-month high of $401.11. The firm has a market capitalization of $393.41 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock’s fifty day moving average is $366.76 and its 200-day moving average is $354.72.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given 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 was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Hedge Funds Weigh In On Home Depot

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its position in Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the period. Fisher Asset Management LLC increased its position in Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after acquiring an additional 184,480 shares during the period. Legal & General Group Plc raised its stake in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after purchasing an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the last quarter. 70.86% of the stock is currently owned by 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.