Is This Stock a Buy for Dividend Growth Investors?
After years of incredible results, the home-improvement retail industry has lost momentum in recent months. And it's not hard to figure out why: Surging interest rates, high inflation, and a cooling economy all played a role.
Boasting a market share of over 15% in a $900 billion market, Home Depot (NYSE: HD) is the most dominant retailer in the home-improvement space. Taking recent economic events into account, one might ask: Should investors seeking dividend growth consider building their portfolio around Home Depot stock? Let's look at the company's fundamentals and valuation to decide.
Bernie Marcus and Arthur Blank deserve credit for the transformation of the home-improvement retail landscape. When the two industry pioneers opened their first store in 1979 in Atlanta, they had a bold goal in mind: Offer a one-stop shop for the do-it-yourself (DIY) customer with a massive, warehouse-size store. Home Depot grew to more than 2,300 stores in the U.S., Mexico, and Canada, so it's safe to say that the duo accomplished that vision.
Source Fool.com
