JPMorgan Chase & Co. Cuts Home Depot (NYSE:HD) Price Target to $444.00

Home Depot (NYSE:HD) had its price target lowered by JPMorgan Chase & Co. from $452.00 to $444.00 in a research report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the home improvement retailer’s stock.

HD has been the subject of a number of other reports. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Tuesday, August 19th. DA Davidson restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. Robert W. Baird boosted their price target on Home Depot from $425.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Home Depot in a report on Wednesday, October 8th. Finally, Truist Financial decreased their target price on shares of Home Depot from $454.00 to $421.00 and set a “buy” rating for the company in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $433.00.

Home Depot Price Performance

Shares of NYSE HD opened at $370.87 on Monday. The company has a fifty day moving average price of $395.17 and a 200 day moving average price of $381.75. Home Depot has a 1-year low of $326.31 and a 1-year high of $439.37. The firm has a market cap of $369.16 billion, a PE ratio of 25.19, a PEG ratio of 3.59 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 dividend payout ratio is presently 62.50%.

Insider Activity at Home Depot

In other Home Depot news, CFO Richard V. Mcphail sold 3,369 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $403.66, for a total transaction of $1,359,930.54. Following the sale, the chief financial officer directly owned 45,455 shares in the company, valued at $18,348,365.30. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William D. Bastek sold 2,303 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $423.12, for a total transaction of $974,445.36. Following the sale, the executive vice president directly owned 24,235 shares of the company’s stock, valued at approximately $10,254,313.20. This trade represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,835 shares of company stock worth $19,623,432 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC lifted its holdings in shares of Home Depot by 8.3% in the third quarter. Foster Dykema Cabot & Partners LLC now owns 1,558 shares of the home improvement retailer’s stock worth $631,000 after acquiring an additional 119 shares during the last quarter. Per Stirling Capital Management LLC. acquired a new position in shares of Home Depot during the third quarter worth $204,000. Marietta Investment Partners LLC boosted its position in Home Depot by 10.4% during the 3rd quarter. Marietta Investment Partners LLC now owns 3,565 shares of the home improvement retailer’s stock worth $1,444,000 after buying an additional 335 shares during the period. Campbell Deegan Wealth Management LLC grew its holdings in Home Depot by 40.7% during the 3rd quarter. Campbell Deegan Wealth Management LLC now owns 864 shares of the home improvement retailer’s stock worth $350,000 after acquiring an additional 250 shares during the last quarter. Finally, LOM Asset Management Ltd increased its position in Home Depot by 2.9% in the 3rd quarter. LOM Asset Management Ltd now owns 11,859 shares of the home improvement retailer’s stock valued at $4,805,000 after acquiring an additional 331 shares during the period. 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.