Home Depot Inc (NYSE:HD) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 7,360,000 shares, an increase of 19.5% from the August 15th total of 6,160,000 shares. Based on an average trading volume of 3,760,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately 0.7% of the shares of the stock are sold short.
HD has been the subject of a number of recent research reports. Nomura upped their target price on Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Jefferies Financial Group upped their target price on Home Depot from $306.00 to $332.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Wells Fargo & Company upped their target price on Home Depot from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. Argus upped their target price on Home Depot from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, BofA Securities raised Home Depot from a “neutral” rating to a “buy” rating and upped their target price for the stock from $290.00 to $330.00 in a report on Wednesday, August 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $286.88.
In other news, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the completion of the transaction, the executive vice president now owns 62,735 shares of the company’s stock, valued at approximately $17,341,836.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 41,947 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.83, for a total value of $11,738,029.01. Over the last quarter, insiders have sold 105,624 shares of company stock valued at $29,429,883. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors have recently bought and sold shares of HD. Cedar Mountain Advisors LLC lifted its holdings in shares of Home Depot by 4.5% in the second quarter. Cedar Mountain Advisors LLC now owns 934 shares of the home improvement retailer’s stock valued at $234,000 after purchasing an additional 40 shares in the last quarter. NTV Asset Management LLC lifted its position in Home Depot by 0.5% during the second quarter. NTV Asset Management LLC now owns 7,634 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 40 shares during the period. Birch Hill Investment Advisors LLC increased its stake in shares of Home Depot by 0.3% during the second quarter. Birch Hill Investment Advisors LLC now owns 13,155 shares of the home improvement retailer’s stock worth $3,295,000 after purchasing an additional 40 shares in the last quarter. TCG Advisors LP grew its stake in Home Depot by 3.0% during the 2nd quarter. TCG Advisors LP now owns 1,381 shares of the home improvement retailer’s stock valued at $346,000 after acquiring an additional 40 shares in the last quarter. Finally, Alpha Windward LLC grew its stake in Home Depot by 1.4% during the 2nd quarter. Alpha Windward LLC now owns 3,060 shares of the home improvement retailer’s stock valued at $767,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.
Shares of HD traded down $3.95 during mid-day trading on Wednesday, hitting $281.63. The company had a trading volume of 3,379,116 shares, compared to its average volume of 5,195,725. The business’s 50-day simple moving average is $277.06 and its 200-day simple moving average is $239.45. Home Depot has a 1-year low of $140.63 and a 1-year high of $292.95. The stock has a market cap of $303.16 billion, a PE ratio of 25.81, a P/E/G ratio of 2.09 and a beta of 1.09.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The business had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same period last year, the company earned $3.17 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. Research analysts forecast that Home Depot will post 11.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, September 2nd. Home Depot’s dividend payout ratio is 58.54%.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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