Home Depot Inc (NYSE:HD) announced a quarterly dividend on Tuesday, February 20th, RTT News reports. Investors of record on Thursday, March 8th will be paid a dividend of 1.03 per share by the home improvement retailer on Thursday, March 22nd. This represents a $4.12 annualized dividend and a yield of 2.20%. This is an increase from Home Depot’s previous quarterly dividend of $0.89.
Home Depot has raised its dividend payment by an average of 23.7% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Home Depot has a payout ratio of 48.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Home Depot to earn $9.40 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 37.9%.
Home Depot (NYSE:HD) opened at $186.97 on Tuesday. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. Home Depot has a 1 year low of $141.00 and a 1 year high of $207.60. The firm has a market capitalization of $218,334.03, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 1.36 and a beta of 1.08.
Home Depot declared that its board has authorized a stock buyback program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, EVP Matt Carey sold 41,396 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raab & Moskowitz Asset Management LLC lifted its holdings in Home Depot by 24.9% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 8,698 shares of the home improvement retailer’s stock worth $1,338,000 after purchasing an additional 1,736 shares in the last quarter. Adalta Capital Management LLC lifted its holdings in Home Depot by 0.3% during the 2nd quarter. Adalta Capital Management LLC now owns 30,575 shares of the home improvement retailer’s stock worth $4,690,000 after purchasing an additional 100 shares in the last quarter. 1st Global Advisors Inc. lifted its holdings in Home Depot by 7.7% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,348 shares of the home improvement retailer’s stock worth $820,000 after purchasing an additional 381 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in Home Depot by 10.5% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,307 shares of the home improvement retailer’s stock worth $507,000 after purchasing an additional 313 shares in the last quarter. Finally, National Asset Management Inc. lifted its holdings in Home Depot by 7.3% during the 2nd quarter. National Asset Management Inc. now owns 21,270 shares of the home improvement retailer’s stock worth $3,264,000 after purchasing an additional 1,443 shares in the last quarter. 70.36% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Deutsche Bank boosted their price objective on Home Depot from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Argus boosted their price objective on Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $220.00 price objective (up previously from $190.00) on shares of Home Depot in a research report on Friday, January 19th. Jefferies Group reissued a “buy” rating and issued a $223.00 price objective on shares of Home Depot in a research report on Monday, February 5th. Finally, Atlantic Securities raised Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $174.16 to $174.95 in a research report on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and a consensus target price of $190.32.
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About Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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