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

The Home Depot, Inc. (NYSE:HD) announced a quarterly dividend on Thursday, May 16th, RTT News reports. Investors of record on Thursday, May 30th will be paid a dividend of 2.25 per share by the home improvement retailer on Thursday, June 13th. This represents a $9.00 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, May 30th.

Home Depot has raised its dividend payment by an average of 11.7% per year over the last three years and has raised its dividend every year for the last 15 years. Home Depot has a dividend payout ratio of 54.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Home Depot to earn $16.26 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 55.4%.

Home Depot Price Performance

Shares of NYSE:HD opened at $344.21 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.40 and a debt-to-equity ratio of 23.11. The stock has a market cap of $341.12 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01. The stock’s fifty day simple moving average is $354.88 and its two-hundred day simple moving average is $346.17. Home Depot has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same quarter in the prior year, the company posted $3.82 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, analysts forecast that Home Depot will post 15.3 EPS for the current fiscal year.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. UBS Group reduced their price objective on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Truist Financial decreased their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Company Profile

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.