Argus set a $240.00 target price on Home Depot (NYSE:HD) in a research report sent to investors on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the home improvement retailer’s stock.
Several other analysts also recently weighed in on HD. SunTrust Banks reaffirmed a hold rating and set a $208.00 target price on shares of Home Depot in a research note on Wednesday. ValuEngine downgraded Home Depot from a buy rating to a hold rating in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price objective on Home Depot from $229.00 to $233.00 and gave the stock an outperform rating in a research note on Tuesday. Citigroup boosted their price objective on Home Depot from $218.00 to $246.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price objective on Home Depot to $230.00 and gave the stock a buy rating in a research note on Monday, August 12th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $220.11.
Home Depot stock traded down $2.83 during mid-day trading on Wednesday, hitting $218.19. 1,153,237 shares of the company’s stock traded hands, compared to its average volume of 3,855,862. The firm has a 50 day moving average price of $212.40 and a 200 day moving average price of $199.39. The company has a market cap of $238.86 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.12. Home Depot has a one year low of $158.09 and a one year high of $222.65.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, September 5th will be given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.49%. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.
In other news, CFO Carol B. Tome sold 26,334 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $189.17, for a total transaction of $4,981,602.78. Following the sale, the chief financial officer now directly owns 519,253 shares of the company’s stock, valued at $98,227,090.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 8,500 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $194.38, for a total value of $1,652,230.00. Following the sale, the executive vice president now directly owns 13,357 shares in the company, valued at $2,596,333.66. The disclosure for this sale can be found here. Insiders have sold 69,522 shares of company stock worth $13,643,931 over the last ninety days. 0.27% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in HD. Oregon Public Employees Retirement Fund raised its position in shares of Home Depot by 8,331.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after purchasing an additional 21,212,570 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Home Depot by 3,457.2% during the second quarter. Nuveen Asset Management LLC now owns 9,641,450 shares of the home improvement retailer’s stock valued at $2,005,132,000 after buying an additional 9,370,409 shares in the last quarter. Thoroughbred Financial Services LLC grew its holdings in shares of Home Depot by 21,191.0% during the second quarter. Thoroughbred Financial Services LLC now owns 3,534,097 shares of the home improvement retailer’s stock valued at $353,410,000 after buying an additional 3,517,498 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Home Depot by 104.6% during the second quarter. Invesco Ltd. now owns 4,531,199 shares of the home improvement retailer’s stock valued at $942,353,000 after buying an additional 2,316,574 shares in the last quarter. Finally, AMF Pensionsforsakring AB purchased a new position in shares of Home Depot during the second quarter valued at $197,884,000. 69.35% of the stock is currently owned by institutional investors.
Home Depot Company Profile
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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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