The Home Depot (NYSE:HD) had its price objective increased by Morgan Stanley from $320.00 to $340.00 in a research report sent to investors on Tuesday, Analyst Ratings Network reports. Morgan Stanley currently has an overweight rating on the home improvement retailer’s stock.
HD has been the subject of a number of other reports. Guggenheim upgraded shares of The Home Depot from a neutral rating to a buy rating and set a $310.00 price objective for the company in a report on Wednesday, January 13th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of The Home Depot from $288.00 to $375.00 and gave the company a buy rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of The Home Depot from $330.00 to $360.00 in a research report on Wednesday, May 5th. Zelman & Associates lowered shares of The Home Depot from a buy rating to a hold rating in a research report on Thursday, April 15th. Finally, Loop Capital lifted their price objective on shares of The Home Depot from $310.00 to $350.00 and gave the stock a buy rating in a research report on Monday, April 19th. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $311.87.
Shares of NYSE HD opened at $326.78 on Tuesday. The Home Depot has a twelve month low of $226.20 and a twelve month high of $345.69. The firm has a fifty day simple moving average of $318.47 and a 200 day simple moving average of $283.78. The company has a market capitalization of $351.36 billion, a PE ratio of 28.60, a P/E/G ratio of 2.13 and a beta of 1.03. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 21.39.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Investors of record on Thursday, March 11th were given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.02%. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Wednesday, March 10th. The Home Depot’s dividend payout ratio is 64.39%.
Hedge funds have recently made changes to their positions in the stock. CI Investments Inc. boosted its holdings in shares of The Home Depot by 7.4% during the 4th quarter. CI Investments Inc. now owns 80,119 shares of the home improvement retailer’s stock valued at $21,281,000 after acquiring an additional 5,505 shares during the last quarter. Roffman Miller Associates Inc. PA raised its position in shares of The Home Depot by 27.9% during the first quarter. Roffman Miller Associates Inc. PA now owns 390,451 shares of the home improvement retailer’s stock valued at $46,067,000 after buying an additional 85,287 shares during the last quarter. Clearview Wealth Advisors LLC bought a new stake in shares of The Home Depot during the fourth quarter valued at approximately $249,000. Canvas Wealth Advisors LLC bought a new stake in shares of The Home Depot during the first quarter valued at approximately $1,060,000. Finally, Venture Visionary Partners LLC raised its position in shares of The Home Depot by 99.2% during the fourth quarter. Venture Visionary Partners LLC now owns 27,768 shares of the home improvement retailer’s stock valued at $7,375,000 after buying an additional 13,825 shares during the last quarter. 68.71% of the stock is currently owned by institutional investors.
About The Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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