The Home Depot, Inc. (NYSE:HD) Short Interest Update

The Home Depot, Inc. (NYSE:HD) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 10,570,000 shares, a drop of 6.1% from the October 15th total of 11,260,000 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 3,300,000 shares, the days-to-cover ratio is presently 3.2 days.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HD. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Truist Financial upped their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Home Depot

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fairway Wealth LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at $33,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot during the 3rd quarter valued at $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the 3rd quarter worth about $46,000. Finally, Denver PWM LLC bought a new position in shares of Home Depot in the 2nd quarter worth about $40,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Up 0.6 %

Shares of HD opened at $410.44 on Tuesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. Home Depot has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The firm has a 50 day moving average price of $400.41 and a 200-day moving average price of $367.33. The firm has a market cap of $407.69 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period last year, the company earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that Home Depot will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

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.