The Home Depot, Inc. (NYSE:HD) Declares $2.25 Quarterly Dividend

The Home Depot, Inc. (NYSE:HD) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Wednesday, November 27th will be paid a dividend of 2.25 per share by the home improvement retailer on Thursday, December 12th. This represents a $9.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th.

Home Depot has raised its dividend payment by an average of 11.7% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Home Depot has a payout ratio of 57.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Home Depot to earn $15.60 per share next year, which means the company should continue to be able to cover its $9.00 annual dividend with an expected future payout ratio of 57.7%.

Home Depot Stock Up 2.3 %

Shares of NYSE:HD opened at $420.00 on Monday. Home Depot has a 1-year low of $308.31 and a 1-year high of $421.56. The company’s fifty day moving average is $403.23 and its two-hundred day moving average is $369.25. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $417.21 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.81 EPS. Equities analysts anticipate that Home Depot will post 15.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Stifel Nicolaus increased their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Oppenheimer raised their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $360.00 to $455.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. Insiders own 0.10% of the company’s stock.

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.