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

The Home Depot, Inc. (NYSE:HD) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 10,540,000 shares, an increase of 8.9% from the November 15th total of 9,680,000 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average trading volume of 3,280,000 shares, the short-interest ratio is presently 3.2 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HD. Bank of America lifted their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Mizuho boosted their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Melius Research assumed coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The stock was 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 owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Home Depot

A number of hedge funds have recently added to or reduced their stakes in HD. International Assets Investment Management LLC increased its stake in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares during the period. Wulff Hansen & CO. lifted its stake in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot during the 3rd quarter worth approximately $336,231,000. FMR LLC increased its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Home Depot by 79.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,172,647 shares of the home improvement retailer’s stock valued at $403,672,000 after purchasing an additional 519,039 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

HD opened at $410.78 on Tuesday. The firm’s 50-day moving average price is $411.84 and its 200 day moving average price is $379.27. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $408.05 billion, a PE ratio of 27.91, a PEG ratio of 2.93 and a beta of 1.03. Home Depot has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.81 EPS. As a group, sell-side analysts expect that Home Depot will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.