Home Depot Inc (NYSE:HD) Short Interest Update

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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