Wells Fargo & Company Cuts Home Depot (NYSE:HD) Price Target to $435.00

Home Depot (NYSE:HD) had its target price decreased by Wells Fargo & Company from $450.00 to $435.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the home improvement retailer’s stock.

A number of other equities analysts also recently issued reports on HD. Robert W. Baird raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Tuesday, August 19th. JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $452.00 to $444.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley upped their price objective on shares of Home Depot from $415.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Home Depot in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $433.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $367.70 on Tuesday. The stock has a market cap of $366.00 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 3.59 and a beta of 1.00. Home Depot has a twelve month low of $326.31 and a twelve month high of $439.37. The company’s fifty day moving average is $394.28 and its 200 day moving average is $381.65. The company has a quick ratio of 0.34, a current ratio of 1.15 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.69 by ($0.01). The company had revenue of $45.28 billion for the quarter, compared to the consensus estimate of $45.43 billion. Home Depot had a return on equity of 193.99% and a net margin of 8.86%.The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.60 earnings per share. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Sell-side analysts forecast that Home Depot will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, September 4th. Home Depot’s payout ratio is presently 62.50%.

Insider Buying and Selling at Home Depot

In other news, EVP William D. Bastek sold 3,783 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the transaction, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at $48,629,658.50. This trade represents a 21.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,835 shares of company stock valued at $19,623,432 over the last 90 days. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HD. Pathstone Holdings LLC grew its stake in Home Depot by 0.9% in the third quarter. Pathstone Holdings LLC now owns 179,377 shares of the home improvement retailer’s stock valued at $72,682,000 after acquiring an additional 1,638 shares during the period. Boston Partners raised its position in shares of Home Depot by 29.3% during the third quarter. Boston Partners now owns 1,026,794 shares of the home improvement retailer’s stock worth $414,928,000 after purchasing an additional 232,704 shares during the period. Pacific Sun Financial Corp lifted its holdings in shares of Home Depot by 3.9% in the 3rd quarter. Pacific Sun Financial Corp now owns 976 shares of the home improvement retailer’s stock worth $395,000 after purchasing an additional 37 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in Home Depot in the 3rd quarter valued at $5,673,000. Finally, Intrepid Capital Management Inc. increased its stake in Home Depot by 6.7% during the 3rd quarter. Intrepid Capital Management Inc. now owns 1,114 shares of the home improvement retailer’s stock valued at $451,000 after purchasing an additional 70 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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.